Iceland

Iceland explains another deep cut

Members of the Central Bank of Iceland's Monetary Policy Committee decided to cut the key policy rate by 250 basis points to 13% in light of the improved stability of the krona, the minutes for the 5 and 6 May meeting reveal.

Iceland cuts by 250bp, eases capital controls

The Central Bank of Iceland's Monetary Policy Committee chopped 250 basis points off its benchmark policy rate on Thursday. The cut, which leaves the rates at 13%, comes as the central bank agreed to relax some capital controls.

Depth of Icelandic cut limited on krona concern

Members of the Central Bank of Iceland's monetary policy committee decided unanimously to cut the key policy rate by a full percentage point to 17% but resisted a steeper move owing to caution about the impact on the currency, the minutes for the 17 and…

Iceland's Oddsson out, Norwegian consultant in

David Oddsson, the beleaguered head of the Central Bank of Iceland, was forced to step down on Friday following the passing of a new central bank act. Svein Harald Oygard, a director at McKinsey, a consultancy, will replace him as interim governor.

Icelandic governor on the defensive

David Oddsson, the chairman of the Central Bank of Iceland, has defended the institution's role in the island's economic meltdown, saying that critics had forgotten that banking supervision was transferred out of the central bank to the new Financial…

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