Economy, Business And Markets

Interest Rates Unchanged

Interest Rates UnchangedInterest Rates Unchanged

The government has no plan to reduce banking interest rates in the near future. Ali Tayebnia, the minister of economy, and Valiollah Seif, the governor of the central bank, have rejected the idea of decreasing the interest rate in the next coming months, Tasnim reported on Friday. When President Hassan Rouhani took office on August 3, 2013, he considered an interest rate hike to fight high inflation. He managed to halve the inflation rate in one year, from over 40 percent to about 20 percent now.