Survey of market expectations
The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 21 through 23 October. A total of 28 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, and licensed asset management firms were invited to participate. Responses were received from 25 market participants, giving a response ratio of 89%.
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Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 30 September and 1 October 2019. There, the Committee discussed economic and financial market developments, the interest rate decision on 2 October, and the communication of that decision.
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Restrictions on transactions with the Central Bank
The Central Bank of Iceland has decided that, effective 1 April 2020, it will reduce the number of parties eligible to hold current accounts with the Bank. These parties currently include banks, savings banks, credit institutions, governmental institutions, and various Government-owned funds. From 1 April onwards, however, only deposit-taking institutions – commercial banks, savings banks, and Part A governmental institutions – will be eligible to hold such accounts.
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Changes in exchange rate listing
From 1 April 2020 onwards, the Bank will publish only the mid-rate of all currencies included in its listing, and this mid-rate will be the official reference exchange rate. Publication of the buying and selling rates will be discontinued. This is consistent with the practice of central banks in comparison countries.
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Financial Stability 2019/2
The Bank’s Financial Stability report 2019/2 presents an overview of the position of the financial system, its strengths and potential weaknesses, and the macroeconomic and operational risks it may face. Financial Stability is also published in Icelandic under the title Fjármálastöðugleiki.
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