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The Iranian Central Bank launches open market operations for the first time in its history
The information / Baghdad ..
On Saturday, Iran's Central Bank Governor Abdel Nasser Hamti announced the launch of open market operations in the context of implementing monetary policy, for the first time since its establishment.
Hamti said in a statement reported by Fares and viewed by him / the information: “Open market operations are one of the most important tools of monetary policy for central banks in the world, as the Iranian Central Bank, since its foundation 60 years ago, is adopting this tool for the first time, after it was interfering in the money market Via traditional methods. ”
He added, “The Iranian central bank traditionally manages the monetary basis and liquidity. As for the open market, it is operations in which the central bank sells and buys government treasury bonds through banks,” stressing that “the central bank will regulate the interest rate between banks from now on through buying and selling treasury bonds.” Government, to achieve the set inflation targets. ”
He considered my concern, "The launch of open market operations in the monetary policy of the Central Bank of Iran is a revolution in this direction, as it will be launched from today, Saturday, January 18, 2020, and will constitute an important shift in the relationships of local banks with the central bank, and will seriously affect the overdraft of banks." And their debts, deposits, operations between banks or the like. Ended / 25
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