Monetary Bulletin
A Quarterly Publication of the Central Bank of Iceland

Vol. 5 no. 4 November 2003

Interest rate rises on the horizon

Economic and monetary developments and prospects
Output growth will pick up, creating a positive output gap by 2005

Financial markets and Central Bank measures
Exchange rate less volatile

Financial stability
The position of the financial system is sound, but has not strengthened

Birgir Ísl. Gunnarsson
The Central Bank and monetary policy

Hallgrímur Ásgeirsson
Financial collateral arrangements

Monetary policy and instruments

Prudential regulation on liquidity ratio and foreign exchange balance

Chronology of financial markets

Tables and charts