Meeting of the Financial Stability Council
The first meeting of the Financial Stability Council in 2018 was held on Thursday 18 January. On the agenda were potential risks in the financial system and the macroeconomic outlook. The Council decided on 19 December 2017 to recommend that the Financial Supervisory Authority keep the countercyclical capital buffer on domestic exposures unchanged at 1.25%.
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Monetary Policy Committee report to Parliament
The Monetary Policy Committee report to Parliament on the Committee's work during the second half of 2017 has been published on the Central Bank’s website. The Act on the Central Bank of Iceland stipulates that the Monetary Policy Committee (MPC) of the Central Bank of Iceland submit to Parliament a report on its activities twice a year and that the contents of the report be discussed in the Parliamentary committee of the Speaker’s choosing.
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Foreign exchange market, exchange rate developments and international reserves 2017
The króna depreciated by 0.7% in 2017, and interbank market turnover contracted by 42% year-on-year. The Central Bank intervened in the foreign exchange market, primarily in the first half of the year, thereby mitigating exchange rate volatility. The Bank’s net foreign currency purchases in the interbank market totalled 70.3 b.kr.
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