Iceland slashes on strengthening króna
The Monetary Policy Committee (MPC) at the Central Bank of Iceland on Wednesday cut its benchmark deposit rate by a full percentage point to 5.5% as the króna continued to gain in foreign exchange markets.
A stronger króna and the prospect of more rapid disinflation than previously expected provided the scope for a larger interest rate reduction than expected. The króna has appreciated by more than 2.5% since the central bank's previous meeting on 23 June, and by more than 2% against the euro
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