Iceland Gets Third Interest Rate Cut of 2010

May 5, 2010

Sedlandi Bank, Iceland’s central bank, has implemented another 50-basis point reduction of the seven-day collateralized lending rate to 8.5%.  Prior cuts of the same amount were announced on March 17 and January 27.  An IMF aid package in the autumn of 2008 mandated a sharp increase in the key rate to 18%, but last year […] More

Central Bank of Iceland Cuts Rates by 50 Basis Points

March 17, 2010

The eighth Icelandic rate cut in twelve months was announced today, reducing the seven-day lending rate by a further 50 basis points to 9.0%, exactly half of the peak level from October 2008 to March 2009.  A statement from monetary officials reads similarly to that of January 27 when officials cut by rates also by […] More

Iceland’s Central Bank Eases Somewhat Unexpectedly

January 27, 2010

Much of the statement released by the Central Bank of Iceland after a 50-basis point cut in key interest rates is devoted to the ongoing debt dispute and uncertainty over the country’s future access to foreign capital markets.  The debt crisis took a turn for the worse when Iceland’s president recently vetoed Icesave legislation on […] More

Awaiting FOMC Statement and Obama’s State of the Union Speech

January 27, 2010

With attention on the FOMC and tonight’s address from President Obama, stocks fell further and the dollar is mixed. Equities lost 2.9% in India, 1.6% in Thailand and Australia, 1.4% in China, 1.2% in Singapore, 0.7% in South Korea and Japan, and 0.5% in Indonesia and Taiwan.  In Europe, the Paris Cac, British Footsie, and […] More