Iceland raises rates in light of weaker króna

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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

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