Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 10 and 14 November 2017. There, the Committee discussed economic and financial market developments, the interest rate decision on 15 November, and the communication of that decision.
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Interest rate decision dates and release calendar published
The Central Bank of Iceland has published its interest rate decision dates and release calendar for 2018.
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Interest rate decision, webcast, and Monetary Bulletin release
The Bank has published the Monetary Policy Committee’s (MPC) interest rate decision on its website as well as the Monetary Bulletin 2017/4. At 10:00 hrs., a press conference will begin where Már Guðmundsson, Governor and Chair of the MPC, and Þórarinn G. Pétursson, Chief Economist and MPC member, 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.
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Monetary Bulletin 2017/4
Monetary Bulletin 2017/4 has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The November 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 15 November 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 4.25%. According to the Central Bank’s new macroeconomic forecast, published in Monetary Bulletin 2017/4, GDP growth will slow significantly this year, and more than the Bank projected in August. It is forecast at 3.7%, down from last year’s GDP growth rate of 7.4%, as a result of a slowdown in export growth, after several strong years, and a pickup in import growth.
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