Survey of market expectations
The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 22 through 24 January. A total of 37 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, licensed asset management firms, and insurance firms were invited to participate. Responses were received from 26 market participants, giving a response ratio of 70%.
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Central Bank lending survey
The Central Bank conducts quarterly lending surveys among the four commercial banks. In the surveys, the banks are asked for their assessment of developments in demand for credit; the factors that, in their opinion, had a decisive impact on supply in the past three months; and their expectations for the coming six months. The results of the most recent survey, conducted during the period 1-15 January 2024, are based on the average of the commercial banks’ responses
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Foreign exchange market, exchange rate developments, and international reserves 2023
The Central Bank of Iceland has posted a press release on the foreign exchange market, exchange rate developments, and international reserves in2023. The króna appreciated by 1.5% in 2023, and turnover in the interbank foreign currency market contracted by 37% year-on-year. The Central Bank intervened in the market twice during the year to mitigate exchange rate volatility. The Bank sold foreign currency for a total of 5.5 b.kr. but did not buy any foreign currency. The exchange rate of the króna fluctuated less in 2023 than in the years immediately preceding. At the year-end, the Bank’s international reserves totalled 790 b.kr., or 20% of GDP.
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Monetary Policy Committee report to Parliament
The Central Bank of Iceland Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H2/2023 has been posted on the Bank’s website.
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Minutes of the Financial Stability Committee meeting of December 2023
The minutes of the Financial Stability Committee meeting December 2023 (19th meeting) have been published. The Financial Stability Committee (FSN) of the Central Bank of Iceland takes decisions on the application of the Bank’s financial stability policy instruments.
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