Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 14 and 15 May 2018. There, the Committee discussed economic and financial market developments, the interest rate decision on 16 May, and the communication of that decision.
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Monetary Bulletin 2018/2
Monetary Bulletin 2018/2 has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The May issue contains updated inflation and macroeconomic forecasts and an abbreviated report on economic and monetary developments and outlook. Monetary Bulletin is also issued in Icelandic under the title Peningamál.
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Statement of the Monetary Policy Committee 16 May 2018
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 4.25%. According to the Central Bank’s new macroeconomic forecast, published in the May issue of Monetary Bulletin, the outlook is for GDP growth to ease between 2017 and 2018, owing to weaker export growth and less rapid increase in domestic demand. Output growth has developed in line with the Bank’s February forecast and, as was projected then, is expected to ease further in the next two years.
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Spring meeting of the International Monetary Fund 2018
Governor Már Gudmundsson attended the spring meeting of the IMF‘s International Monetary and Financial Committee, IMFC, which was held in Washington on 20-21 April. On this occasion he represented the Nordic and Baltic countries in the Committee.
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Survey of market expectations
The Bank’s market expectations survey was carried out between 2 and 4 May 2018. A total of 29 agents in the market, including banks, pension funds, mutual and investment funds, securities brokers, and licensed asset management firms were invited to participate. Responses were received from 21 market participants, giving a response ratio of 72%.
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