Governor’s statement on the special reserve requirement on capital inflows
At the press conference on 14 March where the Monetary Policy Committee‘s interest rate decision was explained, Governor Már Gudmundsson gave a statement on the special reserve requirement on capital inflows. The English translation of the statement has now been published on the website of the Central Bank of Iceland.
Statement of the Monetary Policy Committee 14 March 2018
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 national accounts published by Statistics Iceland on 9 March 2018, year-2017 GDP growth measured 3.6%, which is...
Interest rate decision and webcast
Tomorrow, Wednesday 14 March 2018, the Central Bank of Iceland will air a webcast where the Monetary Policy Committee‘s interest rate decision is explained. At 8:55 a.m. the Statement of the Committee will be posted on the Bank‘s website and at 10:00 a webcast will begin.
Working Paper no. 77: Disinflation and improved anchoring of long-term inflation expectations: The Icelandic experience
The Central Bank of Iceland has published a new working paper on the interaction between the recent development of inflation and the improved anchoring of long-term inflation expectations at the Central Bank’s inflation target.
Current account surplus 2.8 b.kr. in Q4/2017 – net IIP positive by 190 b.kr. at end of 2017
The current account surplus measured 2.8 b.kr. in Q4/2017. There was a deficit on goods trade in the amount of 40.2 b.kr. and a 53.4 b.kr. surplus on services trade, as well as a 5.1 b.kr. deficit on primary income and a 5.3 b.kr. deficit on secondary income. This is included in new information published today on the Central Bank of Iceland website...
Presentation on monetary policy in Iceland at the Bank of England
Kristófer Gunnlaugsson, economist at the Central Bank of Iceland, gave a presentation recently on monetary policy in Iceland at the Bank of England. The presentation focused on monetary policy framework and implementation, post-crisis challenges and reforms.
Working paper no. 76: The effects of Airbnb on the residential housing market
The Central Bank of Iceland has published a new working paper on the effects of Airbnb on the residential housing market. In recent years residential apartments have increasingly been offered as short-term rentals to tourists. AirDNA data on Airbnb bookings is used to construct a measure of the number of apartments which are primarily used as rent...
Gylfi Zoëga reappointed to Central Bank of Iceland Monetary Policy Committee
The Prime Minister has reappointed Dr. Gylfi Zoëga, Professor of Economics at the University of Iceland, as a member of the Central Bank of Iceland Monetary Policy Committee (MPC) pursuant to the Act on the Central Bank of Iceland, no. 36/2001. Gylfi has been a member of the MPC since 2009. Gylfi has been a Professor at the University of Iceland si...
Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 5 and 6 February 2018. There, the Committee discussed economic and financial market developments, the interest rate decision on 7 February, and the communication of that decision.
MPC Meeting with a Parliamentary committee
The Act on the Central Bank of Iceland stipulates that the Monetary Policy Committee (MPC) of the Central Bank of Iceland shall submit to Parliament (Althingi) a report on its activities twice a year and that the contents of the report shall be discussed in the Parliamentary committee of the Speaker’s choosing. The fifteenth meeting will be held on...