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Minutes of the Monetary Policy Committee meeting of 2-3 May 2022

18.05.2022

In accordance with the Monetary Policy Committee Rules of Procedure, the minutes of the Committee's most recent meeting have been published on the Bank's website. The minutes are published two weeks after the announcement of the Committee's decision.

Statement of the Monetary Policy Committee 4 May 2022

04.05.2022

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates by 1 percentage point. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 3.75%.

Monetary Policy Committee statement, Monetary Bulletin and webcast today, 4 May 2022

04.05.2022

A statement of the Central Bank Monetary Policy Committee (MPC) and Monetary Bulletin will be published on the Bank's website today; the statement at 8:30 hrs. and the Bulletin at 8:35 hrs. Beginning an hour later, at 09:30 hrs., will be a webcast presentation, where Ásgeir Jónsson, Governor and Chair of the MPC; Rannveig Sigurðardóttir, Deputy Gov...

Survey of market expectations

27.04.2022

The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 19 through 22 April. A total of 30 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 24 market part...

Central Bank approves resolution plans for systemically important banks

26.04.2022

On 26 April 2022, the Central Bank resolution authority approved resolution plans for Iceland’s three systemically important banks – Arion Bank, Íslandsbanki, and Landsbankinn. The plans cover the execution of bank resolution in the event that their financial position deteriorates to the point that they are deemed failing or likely to fail. Should...

Minutes of the Financial Stability Committee 14 – 15 March 2021

08.04.2022

The minutes of the Financial Stability Committee meeting 14 – 15 March 2021 have been published. The Committee discussed the current situation and outlook for financial stability and the principal risk factors, such as economic developments, risks faced by financial institutions and the financial system, developments in domestic financial markets,...

New Central Bank Supervisory Board

05.04.2022

The Central Bank of Iceland’s new Supervisory Board held its first meeting on Thursday 31 March 2022. At the meeting, Gylfi Magnússon was elected chair and Thórunn Gudmundsdóttir was elected vice-chair.

Economic Indicators published

01.04.2022

The Central Bank of Iceland has published Economic Indicators on its website. Economic Indicators contains a quarterly summary of economic developments, a compendium of statistics, and an update on the position of the financial system. Economic Indicators is also published in Icelandic under the title Hagvísar Seðlabanka Íslands.

IKON is the new alternative reference rate for the Icelandic króna

01.04.2022

The Central Bank has begun daily publication of a new reference rate for the Icelandic króna, called IKON (Icelandic króna overnight). Work on a formulating the new reference rates has been underway, with the cooperation of the commercial banks, since year-end 2019.

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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. Generous support for R&D.

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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