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Statement of the Monetary Policy Committee 13 December 2017

13.12.2017

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 4.25%. According to the newly published national accounts, GDP growth in the first nine months of the year measured 4.3%, more than pre...

Interest rate decision and webcast

12.12.2017

Wednesday 13 December, the Central Bank of Iceland will air webcast explaining the Monetary Policy Committee‘s interest rate decision. At 08:55, the interest rate decision will be announced on the Bank‘s website and an hour later, at 10:00, a webcast will begin. Már Guðmundsson, Governor of the Central Bank of Iceland and Chairman of the Monetary P...

Fitch Ratings upgrades Iceland to ‘A’; outlook is stable

08.12.2017

Fitch Ratings announced today that it had upgraded Iceland‘s long-term foreign and local-currency Issuer Default Ratings (IDRs) to ‘A’ from ‘A-’. The ratings outlook is stable. The main rating drivers are economic stability, reduced external vulnerability and improvements in government debt ratios, supported by robust growth.

Current account surplus 68.1 b.kr. in Q3 – net IIP positive by 108 b.kr.

04.12.2017

The current account surplus measured 68.1 b.kr. in Q3/2017. There was a deficit on goods trade in the amount of 47.5 b.kr and a 117.5 b.kr. surplus on services trade, as well as a 1.6 b.kr. surplus on primary income and a 3.5 b.kr. deficit on secondary income. This is included in new information published on the Central Bank of Iceland website, sho...

Minutes of the MPC

29.11.2017

Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 10 and 14 November 2017. There, the Committee discussed economic and financial market developments, the interest rate decision on 15 November, and the communication of that decision.

Interest rate decision, webcast, and Monetary Bulletin release

15.11.2017

The Bank has published the Monetary Policy Committee’s (MPC) interest rate decision on its website as well as the Monetary Bulletin 2017/4. At 10:00 hrs., a press conference will begin where Már Guðmundsson, Governor and Chair of the MPC, and Þórarinn G. Pétursson, Chief Economist and MPC member, will explain the rationale behind the Committee’s de...

Monetary Bulletin 2017/4

15.11.2017

Monetary Bulletin 2017/4 has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The November 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 15 November 2017

15.11.2017

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 4.25%. According to the Central Bank’s new macroeconomic forecast, published in Monetary Bulletin 2017/4, GDP growth will slow signific...

Survey of market expectations

09.11.2017

The Bank’s market expectations survey was carried out between 30 October and 1 November 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 23 market participants, giving a respons...

Minutes of the MPC

18.10.2017

Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 2 and 3 October 2017. There, the Committee discussed economic and financial market developments, the interest rate decision on 4 October, and the communication of that decision.

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Incentives

Iceland focuses on a favorable business environment, including low corporate tax, availability of land and green energy at competitive prices and efficiency within European legislative framework. New direct investment projects can apply for an investment agreement, ensuring generous regional incentives, including a corporate tax rate ceiling of only 15%.

Why Iceland

Along with having one of the lowest corporate tax rate in Europe, Iceland has a highly educated workforce which is ranked among the highest in the world, offers competitively priced renewable energy with an advanced infrastructure making Iceland an ideal location for investors