The Central Bank of Iran closely monitors lenders’ performance regarding interest rates, Valiollah Seif, the bank’s governor said in a conference on the ‘resistance economy,’ IRNA reported. Seif called on domestic lenders to promote transparency, discipline and the spirit of respecting the law. Doing so will contribute to the profit and stability of lenders, he said. His bank’s major task is to “vigilantly monitor the economy and minimize volatility in markets.” He pointed to minimizing turmoil in the forex market, curbing inflation and channeling loans to production sectors as examples of CBI measures to help stabilize markets. On the recent cuts in interest rates the senior official said “decline in inflation had made rate cuts inevitable.”
