20.03.2019

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

Act no. 14/2019, which amends the Foreign Exchange Act, no. 87/1992, and the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, was published in the Law and Ministerial Gazette (Stjórnartíðindi) on 4 March 2019; cf. the notice on the Law and Ministerial Gazette website. The amendments entailed in the Act were announced in a press release posted on the Central Bank website on 7 December 2018, when the bill of legislation was introduced. The Act will enter into force tomorrow, 5 March 2019.

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20.03.2019

Statement of the Monetary Policy Committee 20 March 2019

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%. According to the newly published national accounts, GDP growth slowed between H1 and H2/2018 and inflation was down to 3% in February.

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19.03.2019

Interest rate decision and webcast

Today, Wednesday 20 March 2019, the Bank published the Monetary Policy Committee’s (MPC) interest rate decision on its website. A press conference will begin at 10:00, where Már Guðmundsson, Governor and Chair of the MPC, and Rannveig Sigurðardóttir, Deputy Governor and MPC member, will explain the rationale behind the Committee’s decision.

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05.03.2019

New Rules published on special reserve requirements and treatment of króna-denominated assets

Rules no. 223/2019, on Special Reserve Requirements for New Foreign Currency Inflows, and Rules no. 224/2019, on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, have been published in the Law and Ministerial Gazette (Stjórnartíðindi). The amendments entailed in the Rules were announced in a press release posted on the Central Bank website on 4 March 2019. The Rules will take effect tomorrow, 6 March 2019. The new Rules on Special Reserve Requirements for New Foreign Currency Inflows will also lower the special reserve ratio (SRR) provided for the previous rules from 20% to 0%, effective 6 March 2019.

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05.03.2019

Seminar today: The CBI’s liquidity management system and a potential optimum taking into account different considerations

A seminar on the CBI‘s liquidity management system and a potential optimum taking into account different considerations will be held today at the Central Bank of Iceland at 15:00 in the conference room Sölvhóll. Speaker: Ragnheiður Jónsdóttir, economist.

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07.02.2018

Webcast

04.02.2015

Webcast

05.11.2014

Webcast

11.12.2013

Webcast

23.10.2013

Statement

12.06.2013

Webcast

20.03.2013

Webcast

06.02.2013

Webcast

02.11.2011

Webcast

21.09.2011

Webcast

17.08.2011

Webcast

16.03.2011

Webcast

02.02.2011

Webcast

04.06.2009

Webcast

07.05.2009

Webcast

08.04.2009

Webcast

28.10.2008

Webcast

11.09.2008

Webcast

01.06.2007

Opening address