Iceland keeps rates unchanged despite above-target inflation

Central Bank of Iceland

The Central Bank of Iceland left interest rates unchanged today (December 12) after the meeting of its monetary policy committee.

The main policy rate stands at 4.5% after the central bank implemented a 25-basis point hike in early October. The committee has declined to further tighten financial conditions despite the sharp increase in inflation recorded last month. Year-on-year prices was 3.3% in November, up from 2.8% in October. Inflation has remained above the 2.5% target since June.

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