Iceland cuts rates on weaker growth forecasts
A reduction in key tourism sector may be worse than previously thought
The Central Bank of Iceland cut interest rates by 25 basis points to 3.75% today (June 26) on lower growth expectations.
The monetary policy committee followed up on the 50bp rate cut it carried out on May 22. Rate-setters say “a contraction in the domestic economy is still anticipated and is expected to show more clearly in coming months”.
This will especially impact the tourism sector, one of the key engines of growth, which may be suffering a decline that is “deeper than previously expected
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com