Survey of market expectations
The Bank’s market expectations survey was carried out between 9 and 11 August 2017. 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 18 market participants, giving a response ratio of...
Monetary Policy Committee report to Parliament
The Monetary Policy Committee report to Parliament on the Committee's work during the first half of 2017 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 the...
Fitch upgrades Iceland to ‘A-’; outlook is positive
Fitch Ratings announced today that it had upgraded Iceland‘s long-term foreign and local-currency Issuer Default Ratings (IDRs) to ‘A-’ from ‘BBB+’. The outlook is positive. The main rating drivers are reduced external vulnerability and improvements in government debt ratios, supported by robust growth.
Standard & Poor‘s today affirmed Iceland‘s Sovereign ratings at A/A-1 with a stable outlook
In accordance with its publication schedule, on June 30 2017, S&P Global Ratings affirmed its 'A/A-1' long- and short-term foreign and local currency sovereign credit ratings on the Republic of Iceland. The stable outlook balances the potential for improvements in Iceland‘s fiscal position against risks of the economy overheating during the next tw...
Economic Indicators 30 June 2017
The Central Bank of Iceland’s Economic Indicators report for June 2017 has been released and can be found here on the Bank’s website. The publication contains information on developments in prices, output, external trade, the labour market, public sector finances, asset markets, and the financial market. The information is published in chart form,...
Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 12 and 13 June 2017. There, the Committee discussed economic and financial market developments, the interest rate decision on 14 June, and the communication of that decision.
CNBC Interview with the Governor
On June 27, CNBC published on its website an interview with Governor Már Guðmundsson. It was recorded at the ECB annual forum in Sintra in Portugal.
Amendments to the Rules on Foreign Exchange - Restrictions on carry trade-related risk and foreign issuance of króna-denominated bonds
New Rules Amending Rules no. 200/2017 on Foreign Exchange were published on the Central Bank of Iceland website today. The amending Rules were also published today in the Law and Ministerial Gazette [Icel: Stjórnartíðindi] and will take effect tomorrow, 27 June 2017.
Central Bank purchase of offshore króna assets
Since 12 March 2017, the Central Bank of Iceland has bought offshore króna assets in two stages for a total of 112.4 b.kr. at an exchange rate of 137.5 krónur per euro. On 12 March, the Central Bank announced an agreement for the purchase of offshore króna assets as these are defined in the Act on the Treatment of Króna-Denominated Assets Subject t...
IMF Executive Board completes Article IV Consultation on Iceland
On 12 June 2017, the Executive Board of the International Monetary Fund (IMF) completed its Article IV Consultation on the status and outlook for the Icelandic economy. An IMF mission visited Iceland to hold discussions with the Icelandic authorities and other stakeholders in March, and their reports on the Icelandic economy were published today on...