{"id":26597,"date":"2012-01-13T13:50:00","date_gmt":"2012-01-13T18:50:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/01\/13\/iran-central-bank-reportedly-raises-interest-rates\/"},"modified":"2012-01-13T13:50:00","modified_gmt":"2012-01-13T18:50:00","slug":"iran-central-bank-reportedly-raises-interest-rates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/01\/13\/iran-central-bank-reportedly-raises-interest-rates\/","title":{"rendered":"Iran Central Bank Reportedly Raises Interest Rates"},"content":{"rendered":"<p><span>The&nbsp;<\/span><a href=\"http:\/\/www.cbi.ir\/default_en.aspx\">Central Bank of the Islamic Republic of Iran<\/a><span>&nbsp;is reported to have decided to raise interest rates to stabilize its gold and currency markets. &nbsp;<a href=\"http:\/\/www.bloomberg.com\/news\/2012-01-12\/iran-to-raise-deposit-rates-to-stabilize-gold-currency-markets.html\">Bloomberg<\/a> cited <a href=\"http:\/\/www.irna.ir\/NewsShow.aspx?NID=30759396&amp;SRCH=1\">IRNA<\/a> quote from Kazem Delkhosh (and central bank official)&nbsp;<\/span><span><span><span>&#8220;The council has decided to fix the rates for bank deposits at a rate higher than inflation&#8221;. &nbsp;Meanwhile financial blog <a href=\"http:\/\/www.zerohedge.com\/news\/iran-interest-rates-raised-20-fight-hyperinflation-iran-nuclear-scientist-killed-street-bomb-ex\">Zero Hedge<\/a> reported that Iran&#8217;s central bank had raised rates to 20%, citing <a href=\"http:\/\/www.enduringamerica.com\/home\/2012\/1\/11\/the-latest-from-iran-11-january-a-car-bomb-in-tehran.html#0753\">EA World View<\/a>: &#8220;<\/span><\/span><\/span><span><span>The effort is to reduce the flow of cash in the economy, but the official says it will increase capital investment by banks in an &#8220;impressive market&#8221;.&#8221; &nbsp;According to Bloomberg Iran&#8217;s inflation rate is currently 20.6% (compared to a reading of 12.5% in the year ending March 2011).<\/span><\/span><\/p>\n<div><a name='more'><\/a><\/div>\n<div>While Iran&#8217;s central bank does not display official interest rates on its website, it periodically issues <a href=\"http:\/\/www.centralbanknews.info\/2011\/04\/iran-central-bank-slashes-interest.html\">decrees on interest rates<\/a>, for example when it ordered banks&#8217; interest rates of 26-28% to be reduced to 14-17% in April last year. &nbsp;Early this year US President, Barack Obama, signed into law a set of sanctions against the Iranian central bank, as a means of isolating the Iranian regime in response to allegations that Iran is seeking to develop nuclear weapons. &nbsp;The Iranian Rial (IRR) last traded around 11,250, placing it down about 9% against the US dollar over the past year, with much of the weakness coming in recent months.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a> <\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-5539488801293704215?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Central Bank of the Islamic Republic of Iran&nbsp;is reported to have decided to raise interest rates to stabilize its gold and currency markets. &nbsp;Bloomberg cited IRNA quote from Kazem Delkhosh (and central bank official)&nbsp;&#8220;The council has decided to fix the rates for bank deposits at a rate higher than inflation&#8221;. &nbsp;Meanwhile financial blog Zero Hedge &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/01\/13\/iran-central-bank-reportedly-raises-interest-rates\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Iran Central Bank Reportedly Raises Interest Rates&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-26597","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=26597"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26597\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=26597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=26597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=26597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}