Today: MPC meeting with a parliamentary committee
Members of the Monetary Policy Committee (MPC) of the Central Bank of Iceland will attend a meeting of the Economic Affairs and Trade Committee of the Parliament (Althingi) today. Attendees will be Governor Már Gudmundsson, Chair of the MPC, Arnór Sighvatsson, Deputy Governor and MPC member, and Katrín Ólafsdóttir, Assistant Professor at Reykjavik...
Market expectations survey
The Bank’s market expectations survey was carried out between 30 January and 1 February. A total of 30 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, and licensed asset management firms were invited to participate. Responses were received from 17 market participants, giving a response rat...
Monetary Bulletin 2017/1
Monetary Bulletin 2017/1 has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The February issue contains updated inflation and macroeconomic forecasts and an abbreviated report on economic and monetary developments and outlook. Monetary Bulletin is also issued in Icelandic under the title Peningamál.
Statement of the Monetary Policy Committee 8 February 2017
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 5%.
Monetary Policy Committee report to Parliament
The Monetary Policy Committee report to Parliament on the Committee's work during the latter half of 2016 has been published on the Central Bank’s website. The Act on the Central Bank of Iceland stipulates that the Monetary Policy Committee (MPC) of the Central Bank of Iceland submit to Parliament a report on its activities twice a year and that th...
Fitch revises outlook on Iceland to positive
Fitch Ratings has revised the outlook on Iceland’s long-term foreign and local currency IDRs to positive from stable. The IDRs are affirmed at BBB+. The issue ratings on Iceland’s senior unsecured foreign- and local-currency bonds were also affirmed at BBB+.
S&P raises Iceland‘s long-term ratings to A- on stronger external position
The rating agency S&P Global Ratings raised its long-term foreign and local currency sovereign credit ratings on Iceland to A- from BBB+. At the same time, the A-2 short-term ratings were confirmed. The outlook is stable.
Offshore króna assets as of end-2016
At the end of 2016, the stock of offshore króna assets amounted to 191 b.kr., after declining by just over 128 b.kr. since 31 March 2016. At the year-end, the offshore stock consisted largely of Treasury bonds, Treasury bills, and other Government-guaranteed securities (105.6 b.kr.); cash and Central Bank certificates of deposits (72.7 b.kr.); and...
Foreign exchange market, exchange rate developments, and foreign exchange reserves 2016
Foreign currency inflows were strong in 2016, foreign exchange market turnover grew, and the Central Bank's foreign exchange reserves increased significantly. Turnover in the interbank foreign exchange market increased by 42% year-on-year, and the Bank’s share was 55%. The Bank bought foreign currency from market makers in the amount of 386 b.kr. d...
Amendments to the Rules on Foreign Exchange, etc.
At the turn of the year, important steps will be taken towards lifting controls on households and businesses, in accordance with the third phase of the authorities’ strategy, publicised in June 2015. From then onwards, residents and non-residents will be authorised to transfer deposits and securities to and from Iceland, to trade in securities abro...