Iceland
Cyber resilience hinges on collaboration, Nordic central bankers say
A decline in cash usage means Nordic economies cannot rely on it as a backstop when systems fail; preventative measures must be cost effective, says Norwegian deputy
IMF concerned over Iceland’s inflation metrics
Inflation excluding housing near 60-year low for 2017, IMF reports
Iceland hikes rates for first time since 2016
Central bank tightens rates as inflation continues to rise above target
Iceland to merge central bank and regulator
Reforms aim to boost trust in institutions by reforming monetary and macro-prudential policy
Icelandic central bank seeks to improve financial position
Bank cuts payments to commercial banks on deposits and may seek capital injection
Iceland is ready to drop final capital controls – Guðmundsson
Icelandic governor says economy is sturdy enough to allow the removal of the remaining controls
People: Slovakia appoints new deputy governor
Iceland reappoints MPC member; FDIC names new director of minority and women inclusion, and more
Payments and market infrastructure provider of the year: Perago
The software company is helping central banks around the world implement reliable and highly adaptable RTGS and retail payments systems
Weak inflation in Nordic countries likely to keep rates on hold
Sveriges Riksbank and Norges Bank set to prolong their dovish stances in last policy meeting of 2017; Iceland holds rates
Central Bank of Iceland picks SIA for payments overhaul
RTGS revamp will see a single system handle both high- and low-value payments; Italy-headquartered SIA wins contract
Icelandic leaders clash on possible peg
Prime minister challenges finance minister’s assertion that the krona needs to be pegged; government launches review of exchange rate policy
Iceland lifts capital controls
Controls on individuals, firms and pension funds lifted, though the central bank will retain controls on inflows to resist carry trade
Tight policy keeping a lid on inflation – Central Bank of Iceland
“Steep” pay increases and rising house prices keep the central bank on alert; report warns the situation could easily change
Icelandic paper finds evidence of rising natural rate
Authors attempt the notoriously difficult process of estimating the natural rate, using various models; rate appears to be on the rise
People: IMF appoints new head of Independent Evaluation Office
Iceland names director of financial stability and Russia appoints head of banking regulation
Central Bank of Iceland gains new powers as more controls lift
Central bank given new powers over information gathering as legislation establishes next phase of capital control liberalisation
Central Bank of Iceland changes course with 50bp cut
Reversal of tightening cycle reflects concern inflation is not rising as expected, in part because of the strength of the króna; growth still forecast to continue above trend
Capital outflows look manageable as Iceland moves to lift controls – central bank
A “stress test” of potential outflows implies the Icelandic financial system and central bank reserves will cope when capital controls are lifted; the government bill prepares to release funds
Icelandic paper finds ‘striking’ ties between financial cycle and real economy
Authors identify strong financial cycle linked to global factors, which impacts macro variables including consumption and government spending; paper suggests range of policy responses
‘Still some flaws’ in transmission mechanism – Icelandic report
Monetary policy report says capital flow measures have not yet had as much of an impact as intended, with the yield curve stubbornly staying flat
Iceland’s new macroeconomic council faces up to wage challenges
Collaboration between government, central bank and labour market groups aims to bring bouts of rapid wage growth under control and better co-ordinate policy
Iceland expands policy framework with capital flow tool
Central bank embraces idea of monetary policy dilemma, not trilemma, imposing reserve requirements on certain types of capital flows into the economy
Iceland prepares for offshore króna auction
Date set for major step towards lifting capital controls, as holders of offshore króna are offered chance to swap currency, albeit at punitive rates
People: Lithuania reappoints governor; Carstens retains BIS posts
Vitas Vasiliauskas handed second five-year term; Carstens will continue to chair the BIS’s global economy meeting and economic consultative committee; ex-Iceland governor to run for president