Central Banking

Iran governor says debt repayment will lower rates

Governor of Central Bank of Iran Mohsen Nourbakhsh said on Saturday thatthe total debts of government and government-affiliated organisationsstands at over 122bn rials and its repayment to the banking system willalso reduce interests charged by banks on loans. He added that currently,the interest on deposits is eight to 18.5 per cent (in case of long-termdeposits) and every depositor expects at least to earn the equivalent ofinflation rate on bank deposits. Nourbakhsh said the liquidity stand

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