Iran raises interest rate to 21 percent
– President Mahmoud Ahmadinejad has agreed to a decision by the Money and Credit Council to increase interest rates on bank deposits to 21 percent which is a little above the inflation rate, Minister of Economic Affairs and Finance Shamseddin Hosseini told reporters after a cabinet meeting on Wednesday./ Over the past few weeks, a wave of panic buying by Iranian households and small investors has swept gold and currency markets, and the cash floating around has thrown the markets into total disarray./ On January 21, the Money and Credit ...
Click
To Read Full Article
