IRAN

The Central Bank of Iran (CBI), has instructed all commercial banks and credit institutions to reduce their  rial deposit and lending rates in line with falling inflation, in a bid to stimulate the economy. Inflation is down from over 40% in mid-2013 to around 14.5% for the year ending on 20 April 2015. 

The CBI’s Money and Credit Council (MCC) with effect from 5 May set a cap of 20% for interest paid on deposits and has lowered the ceiling on the lending rate to 24%...