Central Bank of Iceland raises rates again
Above-target inflation and higher GDP growth justify second rate hike since May, MPC says
The monetary policy committee of the Central Bank of Iceland increased interest rates by 25 basis points at its meeting today (August 25).
This is its second 25bp rate hike since May, reinforcing its post-pandemic tightening cycle. The seven-day term deposit rate is now at 1.25%, the overnight loan rate at 3%, the current account rate at 1%, and the seven-day collateralised rate at 2%.
The increase still leaves the key seven-day term deposit rate well below the 3% level at which it entered the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
RBA keeps policy rate unchanged amid sticky inflation
Central bank raises inflation forecasts, as inflation declines more slowly than expected
Fed holds rates as it struggles with inflation’s last mile
Experts disagree over risks of rising inflation and difficulty of Fed’s position
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
RBNZ holds rates as economy enters recession
Policy-makers keep policy restrictive to tame inflation despite economic downturn
Philippine central bank holds rate
Central bank stays put after headline inflation rises for two consecutive months
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Most read
- ECB staff speak out against changes to internal survey
- Central bank of the year: Central Bank of Brazil
- BIS’s Zhang Tao on why Asian central banks favour a broader policy mix