Icelandic rates raised as 2013 growth prospects strengthen

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The Central Bank of Iceland's monetary policy committee raised its benchmark interest rate by 25 basis points to 6% today (November 14).

The central bank said inflation was "somewhat lower" than its inflation forecast in August, but this is expected to be offset by the greater margin of spare capacity in the economy and a significantly lower exchange rate, which have developed since that time, according to an announcement.

While the central bank has revised down its growth forecasts for 2012

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