Taming Inflation & Preserving Employment Iran’s Priorities: CBI

The Governor of the Central Bank of Iran (CBI) identified controlling inflation as the main priority of monetary policymaking and said: All actions and programs of the Central Bank are carried out within the framework of this strategic goal. According to IRNA reporting from the Central Bank, Abdolnaser Hemmati, emphasizing the control of the country's chronic inflation factors such as the monetization of the government's budget deficit due to the effects of war and the continuation of sanctions, stated: While supporting the stability of the government's financing system, the Central Bank pursues the necessary measures to minimize its inflationary effects. The head of the Central Bank's Supreme Council stated: In the area of monetary policy, the Central Bank seriously pursues controlling and reducing the pace of liquidity growth to prevent the experience of high liquidity growth and the resulting inflation. He added: This policy is doubly important especially in circumstances where the rial financing needs of the government have increased due to declining government revenues. Liquidity growth and the monetary base are under precise daily management, and liquidity absorption tools are employed to manage it. Hemmati said: Preserving and rebuilding the production and supply chain is also on the Central Bank's agenda. Accordingly, in the current circumstances, preventing commodity shortages and preserving employment have gained higher priority. The banking supervision duty is also completely focused on this axis so that credit resources are effectively placed at the service of producers, exporters, and employment preservation without creating systemic risk. - Tehran Times