CBI gov. announces plan to curb inflation

TEHRAN, Apr. 28 (MNA) – The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati announced the bank’s plan for controlling the fluctuating macroeconomic variables including inflation on his Instagram page on Sunday.

“Despite economic fluctuations, CBI could mange to register liquidity growth at 23 percent in the year before (1396), one percent more that that of its preceding year (1395) and seven percent below the figure in 1394,” Hemmati wrote.

“Presently, domestic demand should not be aggravated via sowing insecurity, therefore, CBI is looking for feasible and modern methods to control macroeconomic variables including the inflation rate," he added.

“In the new monetary policy and with the help of open market operations, the Central Bank seeks to manage short-term interest rates and the efficiency of monetary policies to curb the inflation rate, he added.

“Obviously, the previously applied monetary policies would be modified by implementation of the new policies and the insecure demand for money will be reduced,” the CBI governor announced.

“The correcting policy would be effective in case of having a financial discipline in the government and the balanced sheets of the banks unified,” he added.

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