Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 30 September and 1 October 2019. There, the Committee discussed economic and financial market developments, the interest rate decision on 2 October, and the communication of that decision.
Restrictions on transactions with the Central Bank
The Central Bank of Iceland has decided that, effective 1 April 2020, it will reduce the number of parties eligible to hold current accounts with the Bank. These parties currently include banks, savings banks, credit institutions, governmental institutions, and various Government-owned funds. From 1 April onwards, however, only deposit-taking insti...
Changes in exchange rate listing
From 1 April 2020 onwards, the Bank will publish only the mid-rate of all currencies included in its listing, and this mid-rate will be the official reference exchange rate. Publication of the buying and selling rates will be discontinued. This is consistent with the practice of central banks in comparison countries.
Financial Stability 2019/2
The Bank’s Financial Stability report 2019/2 presents an overview of the position of the financial system, its strengths and potential weaknesses, and the macroeconomic and operational risks it may face. Financial Stability is also published in Icelandic under the title Fjármálastöðugleiki.
Statement of the Monetary Policy Committee 2 October 2019
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 3.25%.
Interest rate decision and webcast
The Statement of the Monetary and Policy Committee and its interest rate decision was posted on the Bank's website at 08:55 this morning. At 10:00, a webcast where Ásgeir Jónsson, Governor and Chair of the MPC, and Rannveig Sigurdardóttir, Deputy Governor and member of the MPC, explained the rationale behind the Committee’s decision, was broadcast.
Economic Indicators 27 September 2019
The Central Bank of Iceland’s Economic Indicators report for September 2019 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 f...
Households’ and businesses’ inflation expectations
People’s expectations of future developments in goods and services prices have a strong impact on how inflation develops, partly because expectations about price developments affect both workers’ wage demands and firms’ decisions on how to price their goods and services. For this reason, the Central Bank closely monitors households’ and businesses’...
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 eighteenth meeting was held on 19...
Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 26 and 27 August 2019. There, the Committee discussed economic and financial market developments, the interest rate decision on 28 August, and the communication of that decision.