The Central Bank foreign currency auction of 16 June
Prior to the auction that took place on 16 June 2016, the Central Bank of Iceland solicited offers for the sale of offshore króna assets versus cash payment in foreign currency. On 21 June, the Bank announced the main results of the auction and offered to purchase, at an exchange rate of 190 kr. per euro, the offshore króna assets not sold in the auction. The Terms of Tender for these transactions were announced on 22 June 2016.
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Economic Indicators 29 June 2016
The Central Bank of Iceland’s Economic Indicators report for June 2016 has been released and can be found here on the Bank’s website. The publication contains information on developments in prices, output, external trade, the labour market, public sector finances, asset markets, and the financial market. The information is published in chart form, and underlying data can be called up in spreadsheet format.
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Bank for International Settlements Annual Meeting
Central Bank of Iceland Governor Már Guðmundsson attended the annual meeting of the Bank for International Settlements (BIS) in Basel, Switzerland, on 26 June 2016. The Bank for International Settlements is a limited company owned by 60 central banks. It is a forum for international collaboration among central banks, as well as a research institution and a bank serving central banks around the world.
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Economic impact of the referendum on Britain's EU membership
The result of yesterday’s national referendum in the United Kingdom was that Britain will begin the process of exiting the European Union. This process will take some time. The global financial markets have reacted strongly to the news, with currency exchange rates fluctuating widely and investors fleeing to lower-risk assets. In view of the turmoil, the Central Bank of Iceland has decided to publish a memorandum that it sent to the Government last Wednesday concerning the potential impact of Britain’s possible exit from the EU, now confirmed, on Iceland’s economy and financial market.
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IMF Executive Board completes Article IV Consultation on Iceland
On 20 June 2016, the Executive Board of the International Monetary Fund (IMF) completed its Article IV Consultation on the status and outlook for the Icelandic economy. An IMF mission visited Iceland to hold discussions with the Icelandic authorities and other stakeholders in April, and their reports on the Icelandic economy were published today.
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