Iranian governor opposes president on rates

Tahmasb Mazaheri, the governor of the Central Bank of Iran, has clashed with President Mahmoud Ahmadinejad over the president's decision to set bank rates between ten and 12%, local media reports say.

Mazaheri told Sarmayeh, an Iranian newspaper, that the 10% rate, which is more than 14 percentage points below the central bank's latest measure of inflation, "cannot be imposed."

"We hold a different position to the president," he said.

On Monday, the International Monetary Fund (IMF) said infl

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