Central Bank of Iceland
Fresh Iranian Attacks on Shipping Setting Wednesday’s Financial Market Tone
October 7, 2026
The Brent price of oil is back above $100 per barrel and 1.1% above yesterday’s close, while West Texas Intermediate has been lifted back to the $90 threshold. Long-term interest rates in turn have taken their cue from renewed attacks on ships trying to traverse the Strait of Hormuz. Ten-year sovereign debt yields have leaped […] More
Rate Hike at the Central Bank of Iceland
August 19, 2026
Officials at the Central Bank of Iceland lifted their 7-day deposit rate by 25 basis points to 8.0%. This marks the third such tightening since March. Today’s 4-1 vote in favor of a higher interest rate comes amid elevated inflation caused by the world energy price shock. Icelandic CPI inflation was at 5.3% in July […] More
More Trump-Inspired Confusion and A Slightly Softer Dollar
August 19, 2026
President Trump claims the Strait of Hormuz is cleared of mines and back to normal. Other reports suggest that little shipping traffic is passing through that crucial channel. A U.S.-threatened 50% tariff on many Canadian goods that was to go into effect today was paused last night at least for 3 days as President Trump […] More
Icelandic Interest Rate Hike
March 18, 2026
Policymakers at the Central Bank of Iceland today followed Australia’s lead yesterday, raising the Icelandic 7-day term rate by 25 basis points in a 3-2 decision that included two dissents favoring an increase of 50 basis points. It was the bank’s first rate increase since August 2023, and the new rate level becomes 7.5%, which […] More
U.S. PPI, Fed Decision and Powell’s Press Conference Loom on a Day With Many Other Central Bank Rate Decisions as Well
March 18, 2026
There’s been scant net movement in the dollar overnight. The Federal Open Market Committee is not expected to change the 3.5-3.75% federal funds target range, but today’s meeting has created considerable attention. It’s Chairman Powell’s next-to-last meeting as chairman, but he could stay on the committee into 2028 when his 14-year term as an at-large […] More
Many Purchasing Manager Surveys, Euroland CPI and PPI Reports and a Trio of Interest Rate Decisions
February 4, 2026
Gold and silver prices remain strongly bid this Wednesday following sharp rebounds yesterday. Ahead of this weekend’s snap lower house elections,the yen traded 0.2% lower overnight, bringing is relapse since Friday to 2.4% against the dollar. Prime Minister Takaichi’s Liberal Democratic Party appears likely to increase its parliamentary seat total, which would facilitate the pursuit […] More
Dollar Revival Extended
October 8, 2025
Driven by sluggish growth and political uncertainties affecting other economies, the dollar climbed overnight by a further 0.6% against the Japanese yen and Korean won, 0.4% relative to the New Zealand dollar, 0.3% vis-a-vis the euro and 0.2% versus the Swiss franc, Turkish lira and British pound. The intra-day high in the weighted DXY dollar […] More
Central Bank Rate Cuts of 25 Basis Points in Jamaica, Indonesia and Iceland
May 21, 2025
The Bank of Jamaica implemented its fifth 25-basis point reduction since last August. The new rate level of 5.75% contrasts with 7.0% maintained previously from November 2022. The vote to undertake this latest cut was unanimous and, according to a statement, justified because inflation has been inside its 4-6% target since last September and is […] More
Weakness of Bonds and Dollar Extends Further
May 21, 2025
Ten-year sovereign debt yields climbed overnight by six basis points the U.K., France, Italy and Spain, by five basis points in the United States and Germany, and by two basis points in Japan. The weighted DXY dollar index fell 0.5% so far this Wednesday to a two-week low. The intra-day low of 99.4 compares with […] More
Central Bank Rate Announcements, Geopolitical Uncertainties, and a Big Drop in the Turkish Lira
March 19, 2025
The Federal Reserve and Bank of Japan head a list of five central banks making interest rate announcements today. The BOJ Board voted unanimously to leave its overnight call interest rate unchanged at 0.50%. That matches its highest point since 1995. From 0.10% between January 2016 and March 2024, Japan’s short-term policy interest rate had […] More
