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Statement of the Monetary Policy Committee 26 June 2019

26.06.2019

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 3.75%.

Interest rate decision and webcast

25.06.2019

The Bank will publish the Monetary Policy Committee’s (MPC) interest rate decision on its website tomorrow 26 June 2019 at 08:55. At 10:00, a press conference will begin where Már Gudmundsson, Governor and Chair of the MPC, and Rannveig Sigurdardottir Deputy Governor and member of the MPC, will explain the rationale behind the Committee’s decision.

Minutes of the MPC

05.06.2019

Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 20 and 21 May 2019. There, the Committee discussed economic and financial market developments, the interest rate decision on 22 May, and the communication of that decision.

Current account surplus 35.1 b.kr. in Q1/2019. Net IIP positive by 597 b.kr.

03.06.2019

The current account surplus measured 35.1 b.kr. in Q1/2019. The surplus on external goods trade measured 3.5 b.kr., and the surplus on services trade was 29.7 b.kr. There was a 8.5 b.kr. surplus on primary income and a 6.7 b.kr. deficit on secondary income. Foreign assets totalled 3,746 b.kr. at the end of the quarter, while foreign liabilities tot...

Interest on Central Bank of Iceland certificate of deposit CBI2016

29.05.2019

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. The Central Bank has decided that as of the interest payment date, 2 June 2019,...

Amended Rules on securities eligible as collateral for Central Bank facilities

27.05.2019

The Central Bank has issued rules amending the Rules on Central Bank of Iceland Facilities for Financial Undertakings, no. 553/2009, with the aim, among other things, of expanding the range of assets that financial institutions may provide as collateral for Central Bank facilities. In the main, this entails amending Article 11 of Rules no. 553/2009...

Monetary Bulletin 2019/2

22.05.2019

Monetary Bulletin 2019/2 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 22 May 2019

22.05.2019

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.5 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 4%. According to the Bank’s new macroeconomic forecast, published in the May issue of Monetary Bulletin, the GDP growth out...

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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%.

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