Central Bank rates lowered
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by one percentage point. The deposit rate (current account rate) will be 5.5%, and the maximum bid rate for 28-day certificates of deposit (CDs) will be 6.75%. The seven-day collateralised lending rate will be 7.0% and the overnight lending rate 8.5%.
18 August 2010