TEHRAN, Iran, Oct. 2
Trend:
Governor of Iran's Central Bank Abdolnasser Hemmati announced the preliminary data of the Economic Statistics Office, which shows a 5.4 percent growth in the monetary base and a 15.5 percent growth in liquidity at the end of the first six months of the current Iranian year (started on March 20) compared to the same period last year, Trend reports via IRNA.
"Considering the adjustment of the deposit rate reform, which was done to assist the banks in paying out the emergency funds related to COVID-19 damages, the liquidity growth rate will be down by the end of the current Iranian year (end on March 21, 2021),” Hemmati said.
He mentioned the CBI's plan to control the growth of banks' balance sheets, as another plan of the central bank to control the growth of liquidity.
“Interest rate management will be pursued as the main tool to control inflation,” Hemmati added.
The average goods and services Consumer Price Index in the 12-month period ending Aug. 21, which marks the end of the fifth Iranian month, increased by 25.8 percent compared with the corresponding period of the last fiscal year, latest data released by the Statistical Center of Iran (SCI) show.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on July 21, at 26.4 percent.
The consumer inflation for the month under review (July 22-Aug. 21) registered a year-on-year increase of 30.4 percent, compared with the similar month of the previous Iranian year. The year-on-year inflation in the month ending July 21 was 26.9 percent.