Interbank Rates on Downward Slope

The Central Bank of Iran issued an update Saturday on interbank lending rates indicating that the rates are of the declining order.
It said the rate now is 17.95% down from 18.12% registered almost a week ago.  The rate dropped by 1.65 percentage points in less than six weeks, from 19.6% on May 20.
Interbank rates fluctuated between 19.56-19.9% from mid-February to mid-May, according to CBI data.
If the trend continues, the downward slope is good news for the stock market as it could render investment in stocks more rewarding for banks and credit institutions. It also can weaken the possibility that the CBI may push up bank deposit rates to attract people’s savings into banks to control the high and rising inflation.