Iceland trims rates on króna strength

central-bank-of-iceland

The Monetary Policy Committee (MPC) at the Central Bank of Iceland voted to cut its benchmark seven day collateral lending rate by half a percentage point to 9%, as the króna stabilised on foreign exchange markets.

The króna has gained 4.1% against the euro since the central bank's last rate meeting on 27 January and is up 4.3% against the single currency this year.

Any optimism was, however, tempered by concern over the country's access to financial markets and unresolved disputes from its bank

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