Iran General NewsIran to keep interest rate at 12%

Iran to keep interest rate at 12%

-

ImageIran Focus: Tehran, Iran, May 01 – The Iranian government’s economic committee, tasked with drawing up monetary policy for the nation, has called for bank interest rates to be kept at 12%, state media reported on Thursday.

Iran Focus

ImageTehran, Iran, May 01 – The Iranian government’s economic committee, tasked with drawing up monetary policy for the nation, has called for bank interest rates to be kept at 12%, state media reported on Thursday.
 
The rate which has been approved by the committee still requires approval from hard-line President Mahmoud Ahmadinejad, the state-run news agency Fars said.

"An additional reduction in a decree by the president has not been ruled out", the state-run daily Donya-ye Eqtesad said.

The central bank had proposed setting interest rates at 3 percent above inflation, which is currently running at more than 20 percent. Economists say low interest rates, combined with government spending largesse, have fuelled price rises.

Some economic analysts believe that Ahmadinejad who has ruled over a disastrous period in Iran’s economy may see a cut in the rate as an opportunity to stave off rising dissatisfaction among Iran’s population which has led to widespread anti-government demonstrations in recent months.

Some information provided by Reuters

Latest news

Growing Disintegration Among Iran Regime’s Forces

Iran has been shaken by a wave of nationwide protests since mid-September. The trigger was the death of the...

Grim Tidings for Iran’s Regime After Approval of UN Fact-Finding Mission

After many discussions and debates, the United Nations Human Rights Council has approved a fact-finding mission to investigate the...

Iranian People’s Resistance Changed the Appeasement Policy

Soon after the new US government started its obligations in January 2021, hand in hand with the European governments...

Khamenei’s Disgraceful Campaign Against Piranshahr and Javanrud, Who Will Be the Loser?

On the 67th day of Iran’s revolution, the Iranian regime attempted to put a halt to the protests in...

Iran: Expensive Medicine, Cheap Human Life

A look at the equipment and weapons that the Iranian regime has been using against its people to suppress...

Who Is Abolqasem Salavati Iran Regime’s Killer Judge?

Last week, it was announced that the case of several people who were arrested during the Iranian People's uprising...

Must read

Iran’s checkmate

Washington Times - Editorial: That Tehran will not pay...

Iran urges India to cut ties with Israel

Iran Focus: Tehran, Iran, Feb. 15 – Iran on...

You might also likeRELATED
Recommended to you