Economy, Business And Markets

Central Bank of Iran Signals Interest Rate Hike

CBI Signals Rate Hike
CBI Signals Rate Hike

The Central Bank of Iran has sent another signal that it is about to raise interest rates. 
It has allowed banks and credit institutions to renew one-year deposit contracts that had been struck during the 10-day grace period after which the bank lowered the interest rates. 
"Banks and credit institutions are allowed to extend for one more month the deposit contracts that they had signed with customers between Aug. 24, 2017, and Sept. 2, 2017 under the same conditions and only at the request of customers," a statement published on CBI's official website said on Wednesday.


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