The Central Bank of Iran says decline in inflation expectation and relative stability in financial markets obviates the need for higher interest rates.
Abdolnasser Hemmati, the CBI boss, in a note Friday said the regulator is trying to steer interbank rate to the determined target.
"Given the decline in inflation expectations… and no need for raising interest rates, the CBI plans to navigate interest rates to the middle of the interest rate corridor [IRC]," he wrote in a note posted in his Instagram account.
March 05, 2021 20:41
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CBI Won’t Raise Interest Rates
On a staged basis, the lower bound of interest rate corridor rose from 10% in May 2020 to 14% at present. The upper bound was set at 22% but it went up as high as 23.2% in October. The rate declined to 19.7% this week
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