TEHRAN, Iran, Feb.18
Trend:
Head of Central Bank of Iran promised that the inflation rate is projected to be below 20 percent next Iranian year (begins on March 21, 2020).
“The liquidity growth has been around 28 percent this February,” the CBI governor Abdul Nasser Hemmati told reporters on the sidelines of the annual conference of Resistance Economics on Feb. 18, Trend reports citing IRNA.
The CBI head went on to say that the 50-year average of liquidity growth was about 25 percent.
“We are trying to control the liquidity growth rate,” Hemmati said adding that this year's three-percent increase in liquidity growth rate compared to the 50-year average was due to the net increase in the country's foreign exchange reserves.
Hemmati noted that some have mistakenly said that the 50-year record was broken, which is not true.
He emphasized that the CBI`s main goal is to control inflation.
"None of our forecasts for the coming Iranian year (Starts on March 21) show inflation rate above 20 percent.
The Statistical Center of Iran (SCI) announced on January 21 that Iran’s annual inflation rate has reached 38.6 percent in the last 12 months compared with the previous 12-month period.
Iran's rial has dropped fourfold against major currencies in the past two years.