News all years

15 January 2025

Thórarinn G. Pétursson appointed Deputy Governor for Monetary Policy

Prime Minister Kristrún Frostadóttir has appointed Thórarinn G. Pétursson to serve as Deputy Governor for Monetary Policy for a five-year term, effective today.

15 January 2025

Press Release from EIOPA about NOVIS

The Central Bank of Iceland draws attention to a press release published today on EIOPA's website.

14 January 2025

Monetary Policy Committee report to Parliament

The Central Bank of Iceland Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H2/2024 has been posted on the Bank’s website.

02 January 2025

The Minutes of the Financial Stability Committee's meeting from 26 November and 2 and 3 December published

The minutes for the meeting of the Financial Stability Committee from 26 November and 2 and 3 December 2024 have been published. At the meeting, the Committee discussed the principal risks to financial stability, such as economic developments, risks in the operations of financial institutions and the financial system, developments in domestic financial markets, household and corporate debt, the real estate market, the efficacy of borrower-based measures, and financial institutions’ capital and liquidity. It also discussed global uncertainties. Members discussed also operational security in payment intermediation. Thereafter, they discussed the policy on the countercyclical capital buffer (CCyB) and the neutral buffer rate.

30 December 2024

Revised Currency Baskets

The weights of currencies in the baskets used to calculate the broad and narrow merchandise- and trade-weighted indices have been updated. The weights are determined based on Iceland’s external trade in 2023. The last review was carried out at the beginning of 2024. The tables show the new baskets and the changes resulting from the review. The revised baskets will be used as of 1 January 2025 and will remain in use until the next annual review.

30.12.2024

National Bank of Slovakia issues new conclusion on violations by NOVIS and temporarily restricts distribution of company assets

25.01.2022

Working Paper no. 86: The currency that came in from the cold: Capital controls and the information content of order flow

18.06.2021

Nordic-Baltic countries engage the IMF to conduct an analysis of cross-border money laundering and terrorist financing risks in the region

15.01.2021

Statement by the Central Bank of Iceland Financial Supervision Committee on assessment of risk in financial institutions’ operations

18.09.2020

Amended Rules on Foreign Exchange — Removal of restrictions on cross-border movement of capital pursuant to reduction in special reserve ratio

02.04.2019

Removal of capital controls on holders of offshore krónur and reduction of special reserve requirement on capital inflows

04.03.2019

Amending bill of legislation - liberalisation of capital controls on offshore króna holders and reserve requirement on capital inflows

03.12.2018

Merger of Central Bank of Iceland and Financial Supervisory Authority in preparation - Inflation targeting to remain the principal objective of monetary policy

05.10.2018

Special Publication no. 11: Monetary policy based on inflation targeting: Iceland's experience since 2001 and post-crisis changes

06.09.2017

Amendments to the Rules on Foreign Exchange - Restrictions on carry trade-related risk and foreign issuance of króna-denominated bonds

23.06.2017

The Central Bank of Iceland has sent the Government a report on inflation below the lower deviation limit of the inflation target

07.09.2016

Purchase of State-guaranteed bonds in connection with the results of the Central Bank of Iceland foreign currency auction of 16 June 2016

21.06.2016

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency, posted 13 June 2016

13.06.2016

Moody's places Iceland's Baa2 sovereign rating on review for upgrade

10.06.2016

Purchase price for State-guaranteed securities in connection with the Central Bank of Iceland foreign currency auction of 16 June 2016

09.06.2016

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency

08.06.2016

Bjarni Benediktsson, Minister of Finance and Economic Affairs: address at the Annual Meeting of the Central Bank of Iceland

26.03.2015

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency

19.01.2015

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency.

19.12.2014

Central Bank grants LBI hf. an exemption for payments to priority creditors following agreement amending Landsbankinn-LBI bond

04.12.2014

Bjarni Benediktsson, Minister of Finance and Economic Affairs: address at the Annual Meeting of the Central Bank of Iceland

27.03.2014

Drómi, ESÍ, and Arion Bank conclude settlement agreements - Drómi settles with Arion, which acquires Drómi and Hilda’s household loans

30.12.2013

Moody‘s: Iceland - Mortgage Debt-Relief Plan Is Credit Positive for Housing Financing Fund, Without Detriment to Sovereign Creditworthiness

16.12.2013

The Central Bank of Iceland's reply to the Parliamentary Ombudsman's letter regarding the guidelines issued to financial institutions by the Financial Supervisory Authority and the Central Bank of Iceland.

23.07.2010

International Monetary Fund visit to Iceland 19 - 22 July 2010

07.07.2010

The minutes of the MPC from the decision of 23 June 2010

01.07.2010

Introduction about guidelines issued to financial institutions due to non-binding clauses linking loans to the exchange rate

30.06.2010

IMF Completes First Review Under Stand-By Arrangement with Iceland, Extends Arrangement, and Approves US$167.5 Million Disbursement

26.10.2009

Moody's says Icesave amendment supports fiscal sustainability. Amendment to agreement mildly positive for rating, but negative outlook remains

20.08.2009

Written statement from the Central Bank of Iceland on the Icesave agreements and information on the debt service burden of foreign loans

16.07.2009

Statement of the Central Bank of Iceland Monetary Policy Committee: Continued monetary easing conditional on favourable exchange rate developments

04.06.2009

AII Statement of the Central Bank of Iceland Monetary Policy Committee: Cautious easing of monetary policy is now appropriate

19.03.2009

Statement of the Central Bank of Iceland Monetary Policy Committee: Cautious easing of monetary policy is now appropriate

19.03.2009

Monetary policy statement of the Board of Governors of the Central Bank of Iceland: Of vital importance to stabilise the foreign exchange market and strengthen the króna

28.11.2008

Press Conference September 11, 2008: Monetary policy statement by the Board of Governors of the Central Bank of Iceland and translation of the main questions and answers

11.09.2008

Press Conference July 3, 2008: Monetary policy statement by the Board of Governors of the Central Bank of Iceland: Policy rate remains unchanged

04.07.2008

Board of Governors' Press Conference Thursday May 22, 2008 - The Bank's assessment and an abbreviated translation of the main questions and answers

22.05.2008

Board of Governors' Press Conference Thursday May 8, 2008 - The Bank's assessment and an abbreviated translation of the main questions and answers

08.05.2008

Board of Governors' Press Conference Thursday April 10, 2008 - an abbreviated translation of the main questions and answers

10.04.2008

Standard & Poor's Ratings Services placed its ratings on the Sovereign of Iceland on credit watch with negative implications

01.04.2008

Board of Governors: Press Conference Thursday December 20, 2007 - an abbreviated translation of the main questions and answers

20.12.2007

Address by Davíð Oddsson, Chairman of the Board of Governors of the Central Bank of Iceland, at the Bank's annual meeting March 30, 2007

30.03.2007

Standard & Poor´s Ratings Services assigned its AA- senior unsecured debt rating to the Republic of Iceland´s debut euro-denominated bond

21.11.2006

Fitch Ratings today assigned the Republic of Iceland´s debut EUR1bn benchmark bond an Issuer Default rating (IDRs) of AA-

21.11.2006

Speech by Davíð Oddsson, Chairman of the Board of Governors of the Central Bank of Iceland, at the annual meeting of the National Federation of Pension Funds

18.05.2006

Standard & Poor's affirms Iceland's AA-/A-1+ foreign currency sovereign rating on Healthy Public Finances; Outlook Stable

24.10.2005

Speech by Eiríkur Guðnason, Governor of the Central Bank of Iceland

17.10.2005

IMF Concludes 2005 Article IV Consultation with Iceland

17.10.2005

Upgraded 500 króna banknote

06.10.2005

Central Bank Balance Sheet at end-September 2005

29.09.2005

Peningamál (Monetary Bulletin) published

29.09.2005

The Central Bank of Iceland raises its policy interest rate

19.09.2005

Report to the Government on inflation beyond the tolerance limit

08.09.2005

Foreign currency purchases to meet repayment of Treasury debt

07.09.2005

Mr. Davíð Oddsson appointed Governor and Chairman of the Board of Governors

07.09.2005

Birgir Ísleifur Gunnarsson to retire as Chairman of the Board of Governors

06.09.2005

Central Bank Balance Sheet at end-August 2005

02.09.2005

Balance of payments in the second quarter of 2005

05.08.2005

Central Bank Balance Sheet at end-July 2005

04.08.2005

Fitch Affirms Iceland At AA-/AAA; Outlook Stable

19.07.2005

Moody's affirms Iceland's rating of Aaa

15.07.2005

Direct investment abroad and foreign direct investment in Iceland

14.07.2005

Software exports in 2004

12.07.2005

Revised currency basket for the Icelandic króna exchange rate index

06.07.2005

Central Bank Balance Sheet at end-June 2005

22.06.2005

Revamped website

16.06.2005

Concluding Statement by IMF mission to Iceland

13.06.2005

Summary of the concluding statement of the IMF

06.06.2005

Central Bank Balance Sheet at end-May 2005

03.06.2005

The Central Bank of Iceland raises its policy interest rate

03.06.2005

Balance of payments in the first quarter of 2005 and the external position

06.05.2005

Central Bank Balance Sheet at end-April 2005

03.05.2005

Eiríkur Guðnason re-appointed Governor of the Central Bank of Iceland

02.05.2005

Special repayment of Treasury foreign debt

26.04.2005

Financial Stability

04.04.2005

Central Bank Balance Sheet at end-March 2005

22.03.2005

Central Bank of Iceland publishes Peningamál (Monetary Bulletin)

22.03.2005

The Central Bank of Iceland raises its policy interest rate

07.03.2005

Balance of payments in Q4/2004 (corrected March 7)

04.03.2005

Central Bank Balance Sheet at end-February 2005

18.02.2005

The Central Bank of Iceland raises its interest rates (and submitted a report to the Government)

10.02.2005

Standard & Poor's raises Iceland's foreign currency sovereign rating

04.02.2005

Central Bank Balance Sheet at end-January 2005

10.01.2005

Central Bank Balance Sheet at end-December 2004

06.01.2005

Publication dates for Monetary Bulletin

21.12.2004

Central Bank Collections in a Small Society

21.12.2004

Economic Indicators for December 2004 published

20.12.2004

Working Paper: Out in the cold' Iceland's trade performance outside the EU

17.12.2004

Economy of Iceland for 2004

13.12.2004

Speech by the Chairman of the Board at a public meeting organised by the Chamber of Commerce

06.12.2004

Central Bank Balance Sheet at end-November 2004

03.12.2004

Balance of payments and the external position in the third quarter of 2004

02.12.2004

The Central Bank of Iceland raises its policy interest rate

02.12.2004

Central Bank of Iceland publishes Peningamál (Monetary Bulletin)

16.11.2004

New data on deposits, lending, etc.

05.11.2004

Central Bank Balance Sheet at end-October 2004

05.11.2004

Upgraded 1,000 and 500 króna banknotes

02.11.2004

New statistics

01.11.2004

Economic Indicators for October 2004

29.10.2004

IMF staff visit to Iceland

29.10.2004

Central Bank of Iceland raises its policy interest rate

18.10.2004

Full version of Monetary Bulletin published

06.10.2004

Central Bank Balance Sheet at end-September 2004

17.09.2004

The Central Bank of Iceland raises its policy interest rate

17.09.2004

The Central Bank of Iceland publishes Peningamál (Monetary Bulletin)

06.09.2004

Central Bank Balance Sheet at end-August 2004

06.09.2004

Balance of payments

03.09.2004

Correction: Balance of payments and the external position

02.09.2004

Balance of payments and the external position in the second quarter of 2004 (correction)

24.08.2004

New monetary statistics

17.08.2004

New monetary statistics

06.08.2004

Central Bank Balance Sheet at end-July 2004

27.07.2004

New statistics

20.07.2004

New statistics

14.07.2004

Steady annual growth in software exports

14.07.2004

Revised currency basket for the Icelandic króna exchange rate index

06.07.2004

Central Bank Balance Sheet at end-June 2004

01.07.2004

The Central Bank of Iceland raises interest rates

22.06.2004

Arnór Sighvatsson appointed Chief Economist of the Central Bank of Iceland

08.06.2004

Moody's affirms Iceland's rating of Aaa/P-1

04.06.2004

Central Bank Balance Sheet at end-May 2004

03.06.2004

Welcoming address by the Chairman of the Governors at the SUERF Seminar in Reykjavík

03.06.2004

Balance of payments in the first quarter of 2004 and the external position

01.06.2004

Peningamál (Monetary Bulletin) published today on this website

01.06.2004

The Central Bank of Iceland raises interest rates

19.05.2004

Fitch Ratings affirms the Republic of Iceland's credit ratings ' outlook remains stable

19.05.2004

Changed maturities of Central Bank of Iceland market instruments

17.05.2004

Nordic-Baltic Financial Committee report on the role of the International Monetary Fund

14.05.2004

Central Bank publishes Annual Report for 2003

12.05.2004

Már Guðmundsson appointed to the Bank for International Settlements in Basel

06.05.2004

Central Bank Balance Sheet at end-April 2004

06.05.2004

The Central Bank of Iceland raises interest rates

06.04.2004

Central Bank Balance Sheet at end-March 2004

24.03.2004

Monetary Bulletin 2004/1 ' more material published

23.03.2004

Address by the Chairman of the Supervisory Board

23.03.2004

Address by the Chairman of the Board of Governors

23.03.2004

The Annual Meeting of the Central Bank of Iceland

18.03.2004

Financial stability

17.03.2004

Monetary Bulletin (Peningamál) published later today

05.03.2004

Balance of payments in 2003 and the external position - correction of debt-to-GDP ratios

05.03.2004

Central Bank Balance Sheet at end-February 2004

06.02.2004

Central Bank of Iceland Balance Sheet

27.01.2004

New data on foreign investment in Iceland, etc.

20.01.2004

Publication schedule for Peningamál (Monetary Bulletin)

13.01.2004

Letter to the Icelandic commercial banks and the largest savings bank

09.01.2004

Highlights from the Central Bank of Iceland Balance Sheet

06.01.2004

New arrangement for reporting Central Bank transactions

31.12.2003

Certificates of deposit issued for 4.5 billion krónur

30.12.2003

Repurchase agreements for 17.7 billion krónur

23.12.2003

Central Bank of Iceland issues certificates of deposit

23.12.2003

Economic indicators for December 2003 published

23.12.2003

Repurchase agreements for 7.3 billion krónur

17.12.2003

Standard & Poor's affirms its ratings on Iceland

16.12.2003

Repurchase agreements for 26.2 billion krónur

09.12.2003

Repurchase agreements for 26 billion krónur

04.12.2003

Highlights from the Central Bank of Iceland Balance Sheet

03.12.2003

New Rules on Minimum Reserve Requirements of financial undertakings

02.12.2003

Balance of payments in the third quarter of 2003 and the external position

02.12.2003

Repurchase agreements for 17.3 billion krónur

25.11.2003

Repurchase agreements for 16.3 billion krónur

18.11.2003

Upgraded 5,000 króna banknote issued

18.11.2003

Repurchase agreements for 25.7 billion krónur

06.11.2003

Highlights from the Central Bank of Iceland balance sheet

06.11.2003

The Central Bank of Iceland publishes Peningamál (Monetary Bulletin)

04.11.2003

Repurchase agreements for 25.5 billion krónur

28.10.2003

Repurchase agreements for 17.5 b.kr.

27.10.2003

Changes to payment amount limits and operating times of the Central Bank of Iceland's RTGS system

22.10.2003

Governor's address on monetary policy

21.10.2003

Repurchase agreements for 26.7 b.kr.

14.10.2003

Repurchase agreements for 22.1 b.kr.

07.10.2003

Repurchase agreements for 22.6 b. kr.

07.10.2003

Highlights from the Central Bank of Iceland Balance Sheet

01.10.2003

Appointment to the Board of Governors of the Central Bank of Iceland

30.09.2003

Repurchase agreements for 21.6 b.kr.

24.09.2003

Central Bank Governor's statement at the IMF meeting in Dubai

23.09.2003

Repurchase agreements for 33.4 b.kr.

22.09.2003

Annual Meetings of the IMF and the World Bank Group

22.09.2003

Statement by the Minister of Finance to the IMFC Meeting in Dubai

19.09.2003

Regulations published in English

16.09.2003

Repurchase agreements for 21.8 b.kr.

10.09.2003

Withdrawal of coin and rounding of transactions to whole króna

09.09.2003

Repurchase agreements for 26.5 b.kr.

04.09.2003

Highlights from the Central Bank of Iceland Balance Sheet

04.09.2003

The International Monetary Fund publishes reports on Iceland

02.09.2003

Repurchase agreements for 35.2 b.kr.

01.09.2003

Balance of payments in the first half of 2003 and the external position

01.09.2003

New Monetary Bulletin on the Web

26.08.2003

Repurchase agreements for 24.2 b.kr.

19.08.2003

Repurchase agreements for 41 b.kr.

15.08.2003

Withdrawal of coin denominated in aurar

12.08.2003

Repurchase agreements for 16.9 b.kr.

11.08.2003

Highlights from the Central Bank of Iceland Balance Sheet

05.08.2003

Repurchase agreements for 41.7 b.kr.

31.07.2003

The Central Bank of Iceland publishes Peningamál (Monetary Bulletin)

29.07.2003

Repurchase agreements for 26.8 b.kr

29.07.2003

The strengthening of the exchange rate and economic policy challenges

22.07.2003

Repurchase agreements for 45.1 b.kr.

15.07.2003

Repurchase agreements for 22.9 b.kr.

08.07.2003

Repurchase agreements for 37 b.kr.

04.07.2003

Revised currency basket for the Icelandic króna exchange rate index - correction

04.07.2003

Highlights from the Central Bank of Iceland Balance Sheet

01.07.2003

Repurchase agreements for 28.3 b.kr.

27.06.2003

The Annual Report for 2002 has been published

24.06.2003

Repurchase agreements for 35.8 b.kr.

18.06.2003

Repurchase agreements for 31.6 b.kr.

16.06.2003

Nordic Central Banks Conclude MoU on Financial Crisis Management

10.06.2003

Repurchase agreements for 36.1 b.kr.

06.06.2003

Highlights from the Central Bank of Iceland Balance Sheet

05.06.2003

Concluding statement of IMF

05.06.2003

Balance of payments and external position in the first quarter of 2003

03.06.2003

Repurchase agreements for 26.2 b.kr.

27.05.2003

Repurchase agreements for 40.5 b.kr.

20.05.2003

Repurchase agreements for 29.9 b.kr.

16.05.2003

The Central Bank of Iceland publishes Peningamál with a new inflation forecast

13.05.2003

Repurchase agreements for 43.2 b.kr.

06.05.2003

Repurchase agreements for 23 b.kr.

06.05.2003

Current trends and prospects of the Icelandic economy in a global setting

29.04.2003

Repurchase agreements for 51.4 b.kr

22.04.2003

Repurchase agreements for 24.3 b.kr

15.04.2003

Repurchase agreements for 49.3 b.kr.

08.04.2003

Repurchase agreements for 17.4 b.kr.

03.04.2003

Address by the Chairman of the Board of Governors

01.04.2003

Repurchase agreements for 43.6 b.kr

25.03.2003

Repurchase agreements for 31.7 b.kr.

18.03.2003

Repurchase agreements for 46.6 b.kr.

12.03.2003

The Balance of Payments in 2002

11.03.2003

Repurchase Agreements for 29 b.kr.

07.03.2003

The Balance of Payments in 2002

07.03.2003

The Central Bank of Iceland Changes the Reserve Requirement of Credit Institutions

05.03.2003

The policy and objectives of the Central Bank of Iceland

05.03.2003

Monetary policy and the current monetary situation

04.03.2003

Repurchase agreements for 43.3 b.kr.

25.02.2003

Repurchase agreements for 32.1 b.kr.

18.02.2003

Repurchase agreements for 46.5 b.kr.

17.02.2003

The Central Bank of Iceland and monetary policy

11.02.2003

Repurchase agreements for 21.5 b.kr.

10.02.2003

The Central Bank of Iceland publishes Monetary Bulletin and lowers interest rates

05.02.2003

The Central Bank of Iceland purchases of foreign exchange

04.02.2003

Repurchase agreements for 45.8 b.kr.

28.01.2003

Repurchase agreements for 29.8 b.kr.

21.01.2003

Repurchase Agreements for 48.1 b.kr.

14.01.2003

Repurchase Agreements for 32.6 b.kr.

14.01.2003

Mr. Birgir Ísleifur Gunnarsson re-appointed Governor and Chairman of the Board of Governors

07.01.2003

Repurchase agreements for 48.1 b.kr.

03.01.2003

Repurchase Agreements for 35.5 b.kr.

27.12.2002

Repurchase Agreements for 43.6 b.kr.

17.12.2002

Repurchase Agreements for 30.1 b.kr.

12.12.2002

Central Bank of Iceland lowers interest rates

10.12.2002

Repurchase Agreements for 49 b.kr.

06.12.2002

Balance of payments and external debt

04.12.2002

The Economy of Iceland 2002 published

03.12.2002

Repurchase agreements for 27.9 b.kr.

02.12.2002

Central Bank of Iceland Working Papers

26.11.2002

Repurchase Agreements for 54.4 b.kr.

19.11.2002

Repurchase Agreements for 29.3 b.kr.

12.11.2002

Repurchase Agreements for 55 b.kr.

06.11.2002

The Central Bank of Iceland publishes Monetary Bulletin and lowers interest rates

05.11.2002

Repurchase Agreements for 25.9 b.kr.

29.10.2002

Repurchase Agreements for 53.5 b.kr.

23.10.2002

Moody's upgrades foreign currency rating of Iceland to Aaa

22.10.2002

Repurchase Agreements for 28.7 b.kr.

15.10.2002

Repurchase Agreements for 45.6 b.kr.

15.10.2002

The Central Bank of Iceland lowers interest rates

08.10.2002

Repurchase Agreements for 24.6 b.kr.

01.10.2002

Repurchase Agreements for 55.7 b.kr.

30.09.2002

Statement by Mr. Geir H. Haarde, Minister of Finance

25.09.2002

Changes in the Board of Governors of the Central Bank of Iceland

24.09.2002

Repurchase Agreements for 30.3 b.kr.

18.09.2002

The Central Bank of Iceland lowers interest rates

17.09.2002

Repurchase Agreements for 47 b.kr.

16.09.2002

Iceland in a Global Setting - a speech by the Governor

10.09.2002

Repurchase Agreements for 38 billion krónur

03.09.2002

Repurchase Agreements for 42.5 billion krónur

02.09.2002

The Central Bank of Iceland lowers interest rates

28.08.2002

The Central Bank of Iceland purchases foreign currency in the domestic interbank market

27.08.2002

Repurchase agreements for 38.3 billion krónur

20.08.2002

Repurchase Agreements for 42.8 b.kr.

13.08.2002

Repurchase Agreements for 25.6 b.kr.

06.08.2002

Repurchase Agreements for 50.6 b.kr.

01.08.2002

The Central Bank of Iceland publishes Monetary Bulletin and lowers interest rates

30.07.2002

Repurchase Agreements for 26.9 b.kr.

23.07.2002

Repurchase Agreements for 58.7 b.kr.

16.07.2002

Repurchase Agreements for 25.1 b.kr.

09.07.2002

Repurchase Agreements for 40.4 b.kr.

19.06.2002

The Central Bank of Iceland lowers interest rates

16.05.2002

The Central Bank of Iceland lowers interest rates

07.05.2002

The Central Bank of Iceland publishes Peningamál (Monetary Bulletin) including inflation forecast

30.04.2002

The Central Bank of Iceland lowers interest rates

22.04.2002

Statement by Mr. Geir H. Haarde, Minister of Finance, Iceland

03.04.2002

Concluding Statement of the 2002 Article IV Mission of the International Monetary Fund

27.03.2002

The Central Bank of Iceland lowers interest rates

20.03.2002

Economic indicators, March 2002

15.02.2002

Fitch staðfestir lánshæfiseinkunn Íslands í AA flokki; horfur nú taldar neikvæðar í stað stöðugra

12.02.2002

New committed credit line for the Central Bank of Iceland

01.02.2002

New inflation forecast

29.01.2002

Repurchase Agreements for 38.3 b.kr.

30.11.2001

Working Paper by Joseph E. Stiglitz

21.11.2001

The Central Bank of Iceland issues a new inflation report

13.11.2001

New Act on the Central Bank of Iceland

08.11.2001

New inflation forecast and lower interest rates

19.07.2001