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Interest on Central Bank of Iceland certificate of deposit CBI2016

29.05.2020

With reference to Article 10, Paragraph 2 of the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, interest rates on the certificates of deposit specified in the Act are reviewed by the Central Bank on interest payment dates.

Current account surplus 11.4 b.kr. in Q1 - IIP positive by 692 b.kr.

29.05.2020

The current account surplus measured 11.4 b.kr. in Q1/2020, as compared with a surplus of 50.9 b.kr. in the preceding quarter. The deficit on goods trade totalled 18.6 b.kr., while the surplus on services trade totalled 24 b.kr. There was a 14.2 b.kr. surplus on primary income and a 8.3 b.kr. deficit on secondary income. The net international inves...

May Monetary Bulletin has been published

20.05.2020

May Monetary Bulletin has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The May 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 20 May 2020

20.05.2020

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.75 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 1%. The Committee has also decided to stop offering 30-day term deposits. This entails that the Bank’s key rate will be mo...

Webcast from a press conference 20 May 2020

20.05.2020

Ásgeir Jónsson, Governor and Chair of the MPC, Rannveig Sigurdardottir, Deputy Governor, and Thórarinn G. Pétursson, Chief Economist, explained the rationale behind the Committee’s decision. The contents of the new issue of Monetary Bulletin was also presented.

Interest rate decision, webcast and Monetary Bulletin release

19.05.2020

The Bank will publish the Monetary Policy Committee’s (MPC) interest rate decision on its website tomorrow at 08:55, followed by Monetary Bulletin at 09:00 hrs. Beginning an hour later, at 10:00 hrs., will be a press conference where Ásgeir Jónsson, Governor and Chair of the MPC, Rannveig Sigurdardóttir, Deputy Governor for Monetary Policy, and Thó...

Survey of market expectations

13.05.2020

The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 4 through 6 May. A total of 28 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 27 market particip...

Central Bank and credit institutions sign agreements on bridge loans

12.05.2020

The Central Bank of Iceland has been entrusted with executing Treasury guarantees under a special agreement with the Ministry of Finance and Economic Affairs. To that end, the Bank has signed agreements with Íslandsbanki, Landsbankinn, Arion Bank, and Kvika banki on guarantees of supplemental bridge loans to businesses. The loans are intended for c...

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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