Liquidity growth hits 19% in five months, CBI governor says
Iran’s liquidity growth surged to 19% in the five months to Aug. 22, Central Bank of Iran (CBI) Governor Abdolnaser Hemmati told IRNA on Monday.
The growth rate was 1 percentage point higher than the 18% recorded during the same period last year, Hemmati added.
He said the CBI had sought to rein in liquidity growth through monetary policy tools and “serious control over the amount of liquidity creation by banks”.
Hemmati expressed hope that efforts to control liquidity would help sustain the slowdown in inflation which stands at 69.9%.
According to figures based on CBI data, liquidity hovered around IRR157.81 quadrillion ($68.61bn) at the end of the previous Iranian year, which ended on March 20. The CBI has not yet released precise monthly liquidity figures for the current year.
As a result, the estimated figure of IRR187.4 quadrillion ($81.48bn) for the end of August is calculated from Hemmati’s statement that liquidity grew 19% during the first five months compared with the end of the previous year.
On that basis, around IRR29.59 quadrillion ($12.87bn) was added to liquidity during the five-month period.