Expansionary Monetary Policy Eases

Central Bank of Iran data show that the monetary base continued to decline in the fourth calendar month to July 22. 
The monetary base stood at 6,530.3 trillion rials ($22.5 billion) until that period, up 8.1% in four months since the beginning of fiscal year in March.
The CBI said the growth tamped down as the monetary base expanded by 12.8% in the first four months last year.
It rose 26.2% in the 12 months, down 1.6 percentage points from annualized growth of 27.8% the month before.