22.06.2017

IMF Executive Board completes Article IV Consultation on Iceland

On 12 June 2017, the Executive Board of the International Monetary Fund (IMF) completed its Article IV Consultation on the status and outlook for the Icelandic economy. An IMF mission visited Iceland to hold discussions with the Icelandic authorities and other stakeholders in March, and their reports on the Icelandic economy were published today on the IMF´s website.

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14.06.2017

Statement of the Monetary Policy Committee 14 June 2017

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 4.5%.

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14.06.2017

Webcast on interest rate decision at 10:00

Today at 10:00 the Central Bank of Iceland aired a webcast explaining the Monetary Policy Committee‘s interest rate decision. The Committee’s decision was announced on the Bank’s website via news release at 8:55.

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06.06.2017

Interest on Central Bank of Iceland certificates of deposit

With reference to Article 10, Paragraph 2 of the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, annual interest rates on the certificates of deposit specified in the Act are reviewed by the Central Bank on interest payment dates. The Bank has decided that, from the 2 June 2017 interest payment date, the annual interest rate on the certificates of deposit will be unchanged at 0.5%. Nominal interest on the certificates of deposit (ISIN: IS0000027068) is paid retroactively once a year. Interest on the certificates of deposit shall be deposited to accounts subject to special restrictions; cf. Article 10, Paragraph 4 of Act no. 37/2016.

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02.06.2017

Balance of payments in the first quarter of 2017 and the international investment position

The current account balance was positive by 11.1 b.kr. during the first quarter of 2017, as opposed to a positive balance of 44.6 b.kr. in the preceding quarter. The balance on goods was negative in the amount of 35.1 b.kr., while the balance on services was positive by 43.1 b.kr. The balance on primary income was positive by 8.7 b.kr., whereas secondary income was negative in the amount of 5.5 b.kr.

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