Friday, April 29, 2011

CBI Governor Rejects Hyperinflation Fears

The Governor of the Central Bank of Iran Mahmoud Bahmani today rejected the growing fears in the country of hyperinflation. The current Iranian month of Ordibehesht (which started on 21 April) is being referred to in economic circles as the “Black Ordibehesht.”

“We reject the rumors about the inflation and the Black Ordibehesht,” Bahmani told reporters. “The inflation rate at the end of last (Iranian calendar) year was at 12.4 percent and at the end of Farvardin (20 April) is forecast at between 13.5 to 14 percent,” he added [IRNA, 29 April].

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