Central Bank of Iceland hails successful year
Annual report for 2014 details successful policy mix and return to profit
The Central Bank of Iceland had a successful year in 2014, according to its latest annual report, published yesterday.
Inflation, which averaged 3.9% in 2013, returned to the 2.5% target in 2014 and averaged 2% throughout the year. Interest rates remained constant for much of the year until November and December, which saw cuts of 25 and 50 basis points, respectively.
Risks in the financial system subsided throughout the year, the report said, and large banks' averaged capital ratios of 28.5%
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