Central Bank of Iran reveals inflation forecast
TEHRAN,Iran, May 26
The Central Bank of Iran (CBI) has announced the target inflation rate in the country at 22 percent (±2 percent) in the current Iranian year (began March 20,2020), Trend reports via Tasnim News Agency.
"The Central Bank of Iran believes that in a logical scenario, the inflation rate in Iran would continue to decline, due to the country's macroeconomic variables," said the statement.
"The following target for inflation rate is set according to drop of global oil prices, the volume of bonds being released, banks' balance sheets, investment companies and current interest rates ," said the report.
"The Central Bank of Iran will release monthly reports of changes in the monetary market and inflation rate, to expand its transparency policy," said the bank.
Tha bank's other plans include the sale of government bonds.
The CBI said the government seeks diversity in incomes, as well as drop in costs, by releasing its bonds to make up for the budget deficit.