EghtesadOnline: Since the inflation rate has continued to decline in the last four years, businesses expect the Central Bank of Iran to strictly monitor the implementation of the new CBI directive to lower interest rates, said the head of Iran Chamber of Commerce, Industries, Mines and Agriculture.
EghtesadOnline: As the Central Bank of Iran issued a new directive on Aug. 23 setting a deadline for banks to reduce their deposit interest rates to 15%, the Iranian private sector demands strict oversight over the implementation of rate cuts since banks are already trying to find a way out of it.
EghtesadOnline: The Central Bank of Iran issued a new directive less than a week ago requiring banks to rigidly observe interest rates lowered a year ago by the Money and Credit Council in the latest move to loosen monetary policy.
EghtesadOnline: While more than a year has passed since bank deposit interest rates were officially set at 15%, the Central Bank of Iran has now set a deadline through its latest directive to enforce the lowered rates.
EghtesadOnline: CBI Governor Valiollah Seif has named the newly-formed cordial relationship between the country's monetary and capital markets as a factor for moderating bank interest rates, announcing that consequently, "banks have been allowed to sell some of their bonds in the secondary market".
EghtesadOnline: After a joint meeting held by the members of Majlis Economic Commission, CEOs of state-owned banks and officials of Economy Ministry to discuss different aspects of interest rate cuts, the head of the commission announced the establishment of a committee to further pursue the matter.
EghtesadOnline: A top parliamentary economic commission will soon hold a joint session with CEOs of banks to brainstorm and decide new bank interest rates, announced the head of the commission.
EghtesadOnline: Iranian banks are reluctant to initiate interest rate cuts, the secretary-general of Private Banks and Credit Institutions Association said.
EghtesadOnline: Calls on the Iranian government to cut interest rates are getting louder, with critics of the current monetary policy arguing that the gap between inflation and interest rates will undermine the manufacturing sector and exacerbate a longstanding recession in industries.
EghtesadOnline: A roundtable meeting was held at Tehran Chamber of Commerce, Industries, Mines and Agriculture to discuss bank interest rates and their potential consequences, as well as the return of double-digit inflation rates, review statistics and provide solutions.