Iceland cuts overnight rate, looks ahead to removing capital controls
In an unusual move, the Central Bank of Iceland's Monetary Policy Committee (MPC) voted to cut its overnight lending rate from 16% to 14.5% on Thursday but kept its collateral loan and deposit rates unchanged.
The central bank also said it would respond to signs of excess liquidity in its system by auctioning certificates of deposit, a move typically at odds with the expansionary measure of cutting interest rates.
It cited some encouraging signs in its economy, singling out a larger-than
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