Economy, Business And Markets

Meeting on Rates

Meeting  on RatesMeeting  on Rates

The Money and Credit Council will decide whether to lower interest rates to the proposed 18% from the current 20% in its meeting on Wednesday, said Mohammad Baqer Nowbakht, the government spokesman, IRNA reported. He pointed to the incongruity between the inflation rate -- said to be at 15%-- and interest rates, arguing it would make further cuts inevitable.