Central Bank to continue programme of regular foreign currency sales
From Tuesday 1 December through the end of the month, the Central Bank of Iceland will sell 3 million euros per day to market makers in the interbank market for foreign exchange, for a total of 66 million euros during the month. The transactions will take place soon after the market opens in the morning, and no later than 10:00 hrs.
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Current account deficit of 1.2 b.kr. in Q3 2020 - Net international investment position positive by 33.5% of GDP
In Q3/2020, the current account showed a deficit of 1.2 b.kr., as compared with a deficit of 5.9 b.kr. in the previous quarter. The deficit on goods trade totalled 33.9 b.kr., while the surplus on services trade totalled 20.4 b.kr. There was a 13.5 b.kr. surplus on primary income and a 1.1 b.kr. deficit on secondary income. The net international investment position was positive by 969 b.kr., or 33.5% of GDP, and improved by 142 b.kr., or 5% of GDP, during the quarter. The Central Bank has revised its quarterly statistics on the balance of payments and the IIP back to 1995.
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No gender-based pay gap at the Central Bank of Iceland
The Central Bank of Iceland’s gender-based pay gap in 2020 is 1.6% in favour of women, according to the pay analysis conducted in September 2020.
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November Monetary Bulletin published
The November issue of Monetary Bulletin has been published on the Central Bank of Iceland website. The report, which is issued quarterly, contains the Bank’s analysis of the economic and monetary outlook.
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Statement of the Monetary Policy Committee
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 0.75%.
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