Comment: Exposed currencies cause jitters

The Central Bank of Iceland raised interest rates by 75 basis points last week. The central bank is concerned over the possibility of further declines in the Icelandic krona, which has fallen 12% against the US dollar this year.


Central banks in a number of other countries with high current account deficits, notably New Zealand and Hungary, will be equally jittery as the global supply of cheap money dwindles.

The governor of the Central Bank of Iceland, David Oddsson

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