Iceland’s MPC carries out ninth consecutive rate rise

Central bank slows tightening cycle amid signs inflation may be on downward path

Central Bank of Iceland
Central Bank of Iceland

The Central Bank of Iceland’s monetary policy committee raised its policy rate by 25 basis points on October 5, to 5.75%.

This is the MPC’s ninth consecutive hike since May 2021, for a total of 500bp of rate increases.

The central bank’s press release noted that Iceland is experiencing lower headline inflation, which fell from 9.9% in July to 9.3% in September. The central bank also noted that inflation expectations were falling but that core inflation had risen.

The committee attributed the

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