Iceland cuts rates again
Decision follows rate reductions in May and June, placing key rate at 3.5%
The monetary policy committee (MPC) of the Central Bank of Iceland reduced rates by 25 basis points after its policy meeting today (August 28).
As a result, the rate on seven-day term deposits is now 3.5%. The move follows rate cuts implemented in May and June. The three decisions have decreased the key policy rate by a total of 100bp.
An acute crisis in the key tourism sector will contribute to a 0.2% contraction of GDP in 2019, according to the central bank. This is the main reason behind
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