Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 4 and 5 February 2019. There, the Committee discussed economic and financial market developments, the interest rate decision on 6 February, and the communication of that decision.
MPC Meeting with a Parlimentary 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 seventeenth meeting was held on 2...
Monetary Bulletin 2019/1
Monetary Bulletin 2019/1 has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The February 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 6 February 2019
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 4.5%. According to the Bank’s new macroeconomic forecast, published in the February Monetary Bulletin, GDP growth will slow markedly th...
Statement regarding Nordic-Baltic financial crisis simulation, January 2019
The Nordic and Baltic financial stability authorities have conducted a joint financial crisis management exercise. The exercise was held from 22 to 23 January 2019 and involved 31 authorities from Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden as well as relevant European Union authorities. The exercise followed a hypothet...
Survey of market expectations
The Central Bank of Iceland’s market expectations survey was carried out on 21-23 January. The survey findings suggest that market agents’ short- and medium-term inflation expectations have fallen since the Bank’s late-October survey. According to the median response in this survey, participants expect inflation to measure 3.6% in Q1/2019, rise to...
Monetary Policy Committee Report to Parliament
The Monetary Policy Committee Report to Parliament on the Committee's work during the second 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 th...
Foreign exchange market, exchange rate developments, and international reserves 2018
The króna depreciated by 6.4% in 2018, and turnover in the interbank foreign currency market contracted sharply year-on-year. In H2/2018, the Central Bank sold currency in the interbank market three times, with the aim of mitigating fluctuations in the exchange rate of the króna. The exchange rate was relatively stable in the first eight months of...
Seminar: Economic Crisis in Nordic and Baltic Countries
Seminar introducing a new book: The Economic Crisis and its Aftermath in the Nordic and Baltic Countries - Do As We Say and Not As We Do. The seminar will take place at the Central Bank of Iceland on Wednesday 16 January at 15:00 in the meeting room Sölvhóll. Speaker: Hilmar Þór Hilmarsson, professor at the University of Akureyri. The seminar will...
Central Bank of Iceland receives equal pay certification
Yesterday the Central Bank of Iceland received formal equal pay certification in recognition of its wage structure, which fulfils the requirements of the equal pay certification standard ÍST 85:2012. The formal assessment of the Bank’s equal pay system was concluded in December 2018. The assessment was carried out by BSI Iceland, an accredited repr...