Iran's Central Bank told domestic lenders to reduce their interest rates, in an effort to encourage economic growth, the official Islamic Republic News Agency reported.
The Central Bank "has announced the banks interests rates, which were about 26 to 28 percent, as 14 to 17 percent," Governor Mahmoud Bahmani was quoted as saying by IRNA today.
"The aim is to help production and industries so that by decreasing the price of finished goods we can control and better manage imports," Bahmani said.
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