Baku, Azerbaijan, Apr. 20
By Fatih Karimov - Trend:
Bank interest rates in Iran are likely to decrease considering the decreasing trend of the inflation rate.
Iranian Economy Minister Ali Tayyebnia made the announcement, adding that the inflation rate rose in recent years. Accordingly, bank interest rates increased, as well, Iran's Tasnim news agency reported on April 20.
But, considering that the inflation rate has been decreasing in recent months, bank interest rate will not certainly go higher, he explained.
The Mehr News agency earlier quoted Farhad Nili, an official at the Central Bank of Iran, as saying that bank interest rates in Iran should be over 25 percent.
Based on projections, the inflation rate in the current Iranian year, started on March 21, will be about 25 percent. So, bank interest rates should be above 25 percent, he said.
Iranian President Hassan Rouhani earlier said his government plans to decrease the inflation rate to below 25 percent by the end of the current Iranian calendar year 1393 (March 20, 2015).