Central Bank interest rates lowered
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates. The deposit rate (current account rate) is lowered by 0.5 percentage points, to 3.5%, and the maximum bid rate for 28-day certificates of deposit (CDs) and the seven-day collateralised rate are lowered by 1.0 percentage point each, to 4.25% and 4.5% respectively. Finally, the overnight lending rate is lowered by 1.5 percentage points, to 5.5%.
8 December 2010