Governor of Iran’s central Bank, Valiollah Seif, on the sidelines of government cabinet meeting said the new decision of Central Bank for decreasing interest rate is not all of a sudden, adding this decision was taken after several months of Central Bank’s focus on organizing unauthorized credit institutions, organizing extra withdrawal of banks and solving capital market problems.
Seif voiced the interest rate of interbank has reduced to 18 percent, while it was above 21 percent, saying all banks are willing to decrease interest rate as soon as possible.
Governor of Iran’s central Bank noted the rates in both capital market and monetary market are linked together and if we want to decrease interest rate basically and in a balanced way, we have to consider them beside each other.
“All tools and prerequisites are prepared for this task and this rate can be placed in banking system naturally”, Seif said.
Governor of Iran’s central Bank stressed that according to the meeting of managing directors of banks with Central Bank, all of them are eager to decrease interest rate very soon, expressing hope this decision can create a positive atmosphere.
Seif underlined the interest rate has had a downward trend since last month from above 21 percent to 18 percent and also it can go down gradually more in the future.
