Chief Economist‘s presentation on the financial crisis and the recent recovery in Iceland
Thórarinn G. Pétursson, Chief Economist of the Central Bank of Iceland gave a presentation for the Finnish Academy last Friday.
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Governor’s explanatory remarks at the presentation of the 23 August 2017 interest rate decision
At the press conference on the 23 August 2017 interest rate decision, Governor Már Guðmundsson made explanatory remarks on the Central Bank’s foreign exchange market activity and the special reserve requirement on capital flows into the bond market and high-yielding deposits (the capital flow management measure).
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Interest rate decision, webcast and Monetary Bulletin
Today the Central Bank of Iceland will air webcast explaining the Monetary Policy Committee‘s interest rate decision and present the contents of the new issue of Monetary Bulletin. At 08:55, the interest rate decision was announced on the Bank‘s website, at 9:00 the Monetary Bulletin was published and an hour later, at 10:00, a webcast will begin.
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Monetary Bulletin 2017/3
Monetary Bulletin 2017/3 has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The August 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.
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Statement of the Monetary Policy Committee 23 August 2017
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%. The outlook is for GDP growth to be strong this year, as it was in 2016, albeit somewhat weaker than was forecast in the May issue of Monetary Bulletin. GDP growth is driven in particular by growth in tourism and private consumption; furthermore, the outlook is for fiscal easing this year.
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