Iceland explains another deep cut
Members of the Central Bank of Iceland's Monetary Policy Committee decided to cut the key policy rate by 250 basis points to 13% in light of the improved stability of the krona, the minutes for the 5 and 6 May meeting reveal.
The minutes said that the governor and two other members of the committee voted in favour of the 250 basis points cut. Two members voted for a 300 basis points reduction. The minutes also said that while members noted that commercial banks made progress in the area of
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