Iceland hikes policy rate again

Central Bank of Iceland
Central Bank of Iceland

The monetary policy committee (MPC) of the Central Bank of Iceland ordered a 50 basis-point increase in the policy rate on November 17.

The decision brings the seven-day term deposit rate to 2% and is the fourth time this year that the MPC has increased rates. Iceland was one of the first developed countries to begin raising interest rates, starting in May. At their three previous meetings, policy-makers raised rates by 25bp.

The five-member MPC comprises the governor, two of the three deputy

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