Iran's CB Announces Action Plan to Tackle Monetary, Banking Issues

The Central Bank of Iran set out plans of action to address assorted banking and monetary issues in a bid to promote its contribution to economic growth.
The package of measures includes monetary policies to harness inflation, foreign exchange policies, supervision on banking networks as well as developing innovative banking and payment technologies.
The CBI said it will continue its anti-inflation efforts by reducing the ever-expanding growth of the money supply. This will be coupled with the regular implementation of open market operations, the CBI’s public relations website reported.
As part of measures to control the monetary base, the regulator encouraged lenders to engage in OMO. Using bonds as collateral to borrow from the CBI and regulating interbank interest rates are key elements of the OMO.