News all years

20 May 2020

May Monetary Bulletin has been published

May Monetary Bulletin 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.

20 May 2020

Statement of the Monetary Policy Committee 20 May 2020

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.75 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 1%. The Committee has also decided to stop offering 30-day term deposits. This entails that the Bank’s key rate will be more effective and the Bank’s policy rate signal clearer. Other things being equal, this measure should increase liquidity in circulation and further strengthen monetary policy transmission.

20 May 2020

Webcast from a press conference 20 May 2020

Ásgeir Jónsson, Governor and Chair of the MPC, Rannveig Sigurdardottir, Deputy Governor, and Thórarinn G. Pétursson, Chief Economist, explained the rationale behind the Committee’s decision. The contents of the new issue of Monetary Bulletin was also presented.

19 May 2020

Interest rate decision, webcast and Monetary Bulletin release

The Bank will publish the Monetary Policy Committee’s (MPC) interest rate decision on its website tomorrow at 08:55, followed by Monetary Bulletin at 09:00 hrs. Beginning an hour later, at 10:00 hrs., will be a press conference where Ásgeir Jónsson, Governor and Chair of the MPC, Rannveig Sigurdardóttir, Deputy Governor for Monetary Policy, and Thórarinn G. Pétursson, Chief Economist of the Bank, will explain the rationale behind the Committee’s decision. The contents of the new issue of Monetary Bulletin will also be presented at that time.

13 May 2020

Survey of market expectations

The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 4 through 6 May. A total of 28 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 27 market participants, giving a response ratio of 96%.

12.05.2020

Amended Rules on Foreign Exchange — Removal of restrictions on cross-border movement of capital pursuant to reduction in special reserve ratio

02.04.2019

Removal of capital controls on holders of offshore krónur and reduction of special reserve requirement on capital inflows

04.03.2019

Amending bill of legislation - liberalisation of capital controls on offshore króna holders and reserve requirement on capital inflows

03.12.2018

Merger of Central Bank of Iceland and Financial Supervisory Authority in preparation - Inflation targeting to remain the principal objective of monetary policy

05.10.2018

Special Publication no. 11: Monetary policy based on inflation targeting: Iceland's experience since 2001 and post-crisis changes

06.09.2017

Amendments to the Rules on Foreign Exchange - Restrictions on carry trade-related risk and foreign issuance of króna-denominated bonds

23.06.2017

The Central Bank of Iceland has sent the Government a report on inflation below the lower deviation limit of the inflation target

07.09.2016

Purchase of State-guaranteed bonds in connection with the results of the Central Bank of Iceland foreign currency auction of 16 June 2016

21.06.2016

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency, posted 13 June 2016

13.06.2016

Moody's places Iceland's Baa2 sovereign rating on review for upgrade

10.06.2016

Purchase price for State-guaranteed securities in connection with the Central Bank of Iceland foreign currency auction of 16 June 2016

09.06.2016

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency

08.06.2016

Bjarni Benediktsson, Minister of Finance and Economic Affairs: address at the Annual Meeting of the Central Bank of Iceland

26.03.2015

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency

19.01.2015

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency.

19.12.2014

Central Bank grants LBI hf. an exemption for payments to priority creditors following agreement amending Landsbankinn-LBI bond

04.12.2014

Bjarni Benediktsson, Minister of Finance and Economic Affairs: address at the Annual Meeting of the Central Bank of Iceland

27.03.2014

Drómi, ESÍ, and Arion Bank conclude settlement agreements - Drómi settles with Arion, which acquires Drómi and Hilda’s household loans

30.12.2013

Moody‘s: Iceland - Mortgage Debt-Relief Plan Is Credit Positive for Housing Financing Fund, Without Detriment to Sovereign Creditworthiness

16.12.2013

The Central Bank of Iceland's reply to the Parliamentary Ombudsman's letter regarding the guidelines issued to financial institutions by the Financial Supervisory Authority and the Central Bank of Iceland.

23.07.2010

International Monetary Fund visit to Iceland 19 - 22 July 2010

07.07.2010

The minutes of the MPC from the decision of 23 June 2010

01.07.2010

Introduction about guidelines issued to financial institutions due to non-binding clauses linking loans to the exchange rate

30.06.2010

IMF Completes First Review Under Stand-By Arrangement with Iceland, Extends Arrangement, and Approves US$167.5 Million Disbursement

26.10.2009

Moody's says Icesave amendment supports fiscal sustainability. Amendment to agreement mildly positive for rating, but negative outlook remains

20.08.2009

Written statement from the Central Bank of Iceland on the Icesave agreements and information on the debt service burden of foreign loans

16.07.2009

Statement of the Central Bank of Iceland Monetary Policy Committee: Continued monetary easing conditional on favourable exchange rate developments

04.06.2009

AII Statement of the Central Bank of Iceland Monetary Policy Committee: Cautious easing of monetary policy is now appropriate

19.03.2009

Statement of the Central Bank of Iceland Monetary Policy Committee: Cautious easing of monetary policy is now appropriate

19.03.2009

Monetary policy statement of the Board of Governors of the Central Bank of Iceland: Of vital importance to stabilise the foreign exchange market and strengthen the króna

28.11.2008

Press Conference September 11, 2008: Monetary policy statement by the Board of Governors of the Central Bank of Iceland and translation of the main questions and answers

11.09.2008

Press Conference July 3, 2008: Monetary policy statement by the Board of Governors of the Central Bank of Iceland: Policy rate remains unchanged

04.07.2008

Board of Governors' Press Conference Thursday May 22, 2008 - The Bank's assessment and an abbreviated translation of the main questions and answers

22.05.2008

Board of Governors' Press Conference Thursday May 8, 2008 - The Bank's assessment and an abbreviated translation of the main questions and answers

08.05.2008

Board of Governors' Press Conference Thursday April 10, 2008 - an abbreviated translation of the main questions and answers

10.04.2008

Standard & Poor's Ratings Services placed its ratings on the Sovereign of Iceland on credit watch with negative implications

01.04.2008

Board of Governors: Press Conference Thursday December 20, 2007 - an abbreviated translation of the main questions and answers

20.12.2007

Address by Davíð Oddsson, Chairman of the Board of Governors of the Central Bank of Iceland, at the Bank's annual meeting March 30, 2007

30.03.2007

Standard & Poor´s Ratings Services assigned its AA- senior unsecured debt rating to the Republic of Iceland´s debut euro-denominated bond

21.11.2006

Fitch Ratings today assigned the Republic of Iceland´s debut EUR1bn benchmark bond an Issuer Default rating (IDRs) of AA-

21.11.2006

Speech by Davíð Oddsson, Chairman of the Board of Governors of the Central Bank of Iceland, at the annual meeting of the National Federation of Pension Funds

18.05.2006

Standard & Poor's affirms Iceland's AA-/A-1+ foreign currency sovereign rating on Healthy Public Finances; Outlook Stable

24.10.2005