The Central Bank of Iceland raised interest rates by 25 basis points on Wednesday after revising upwards its inflation forecast for the year as it faced a weakening króna.
The decision by the central bank's Monetary Policy Committee will see the seven-day collateralised lending rate rise to 4.5% and the overnight lending rate move to 5.5%.
The central bank said the rate hike reflected the deterioration in Iceland's inflation outlook over the next two years. Data from Statistics Iceland shows ann
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- ‘Regulatory equivalence’ not enough for post-Brexit UK CCPs – Cœuré