Iceland – Financial Stability Review (June 2009)
Iceland is set to soon pass the trough of the business cycle, but more remains to be done, the country's central bank said in its latest Financial Stability Review.
In his foreword, Már Gudmundsson, the governor of the central bank said: "Inflation has subsided, and the outlook for continued disinflation is good. It appears as though the economic cycle will soon hit bottom."
However, he added: "A great deal of work is ahead if we are to take advantage of our achievements to data, reducing
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