01.03.2017

Katrín Ólafsdóttir reappointed to Central Bank of Iceland Monetary Policy Committee

The Prime Minister has reappointed Dr. Katrín Ólafsdóttir, Assistant Professor at Reykjavík University, as a member of the Central Bank of Iceland Monetary Policy Committee (MPC) pursuant to the Act on the Central Bank of Iceland, no. 36/2001. Katrín has been a member of the MPC since 3 March 2012. She worked as an economist at Landsbanki Íslands from 2002 to 2003 and served as Head of Forecasting at the National Economic Institute of Iceland from 1999 to 2002. From 1991-1998 she was employed as an economist in the Economics Department of the Icelandic Ministry of Finance. Katrín received her doctoral degree in labour economics from Cornell University in Ithaca, New York, in 2009.

About the Monetary Policy Committee
Decisions on the application of the Central Bank's monetary policy instruments are taken by the Monetary Policy Committee. In this context, the Bank's monetary policy instruments include decisions on interest rates; transactions with credit institutions other than those listed in Article 7, Paragraph 2; determination of reserve requirements as provided for in Article 11; and foreign exchange market transactions as provided for in Article 18, which are intended to influence the exchange rate of the króna. Decisions by the Monetary Policy Committee must be based on the Bank's objectives and a thorough assessment of the current situation of and outlook for the economy and monetary issues and financial stability. Members of the Monetary Policy Committee are the Governor (who chairs the Committee), the Deputy Governor, and a senior Central Bank official in the field of monetary policy, as well as two external experts in the field of economic and monetary policy who are appointed by the Prime Minister.

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