Moody’s changes Iceland’s outlook to positive from stable and affirms A3 ratings
Moody’s Investors Service ("Moody’s") has today changed the Government of Iceland's sovereign rating outlook to positive from stable and affirmed Iceland’s A3 long-term issuer rating. The key drivers for the change in the rating outlook to positive from stable are: 1) Improving economic resilience afforded by net external creditor position, more ba...
Monetary Policy Committee report to Parliament
The Monetary Policy Committee report to Parliament on the Committee's work during the first half of 2018 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...
Economic Indicators 29 June 2018
The Central Bank of Iceland’s Economic Indicators report for June 2018 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 11 and 12 June 2018. There, the Committee discussed economic and financial market developments, the interest rate decision on 13 June, and the communication of that decision.
Rannveig Sigurdardóttir appointed Deputy Governor
The Prime Minister has appointed Rannveig Sigurdardóttir to the position of Deputy Governor of the Central Bank of Iceland. Rannveig will take over from the current Deputy Governor, Arnór Sighvatsson, on 1 July.
Statement of the Monetary Policy Committee 13 June 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%.
Interest rate decision – webcast
The Statement of the Monetary Policy Committee and its interest rate decision has been posted on the Central Bank´s website. At 10:00 a.m. a webcast will begin where Governor Mar Gudmundsson, Chairman of the Monetary Policy Committee, and Deputy Governor Arnor Sighvatsson and Member of the Monetary Policy Committee, will present the Committee´s int...
Fitch affirms Iceland at A with a stable outlook
Today, rating agency Fitch Ratings affirmed Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at A with a stable outlook. According to the rating agency, this rating balances the economy’s high income per capita, strong performance on governance, human development and doing business indicators against its high commodity export depend...
Change in credit institutions’ minimum reserve requirements
The Monetary Policy Committee of the Central Bank of Iceland has decided to change the arrangements for credit institutions’ minimum reserve requirements so as to divide the reserve requirement into two parts: a fixed 1% reserve requirement bearing no interest, and a 1% reserve requirement of the type that has been in place heretofore, currently be...
New Rules on Securities and Currency Trading by CBI employees
The Central Bank of Iceland has issued new Rules on Securities and Currency Trading by Central Bank of Iceland Employees, which supersede the previous Rules dating from 2002. As before, the purpose of the Rules is to ensure that securities and currency trading undertaken by Central Bank of Iceland employees is in accordance with the laws and rules...