Bank of Iceland
Bank of Iceland to Raise Interest Rates Before Long
May 13, 2015
Although the 7-day Icelandic repo rate of 4.5% was left unchanged, officials signaled that a hike is coming. “The Bank’s interest rate reduction late in 2014 was based on a sharp drop in inflation and the decline in inflation expectations, which led to a larger rise in real rates than was considered warranted at that […] More
Bank of Iceland: No Rate Change
March 18, 2015
Iceland’s 4.5% seven-day term deposit rate, 5.25% seven-day collateralized lending rate, and 6.25% overnight lending rate were left unchanged after the latest review by the Monetary Policy Committee, which released a very similar statement to the prior one on February 4. Officials are treating the recent slide of inflation cautiously. Inflation has measured 0.8% in […] More
Bank of Iceland Cuts Interest Rate
November 5, 2014
Iceland’s one-week central bank lending rate was changed today for the first time in two years. A cut of 25 basis points to 5.75% reversed a similar-sized increase in November 2012 that culminated 175 basis points of tightening begun in August 2011. The explanation in a released statement focused on lower inflation and indications of […] More
Bank of Iceland
October 1, 2014
The seven-day Icelandic collateralized lending rate was left unchanged as expected at 6.0%, its level since a 25-basis point hike in November 2012 culminated 175 basis points of tightening begun in August 2011. A statement from the Monetary Policy Committee observes that economic growth slowed in the first half of 2014 but remains consistent with […] More
