Minutes of the MPC
As is provided for in the Monetary Policy Committee Rules of Procedure, the Bank publishes the minutes of each MPC meeting on its website two weeks after each policy rate decision. Here we therefore publish the minutes of the MPC meeting held on 3 and 4 February 2020, during which the Committee discussed economic and financial market developments, the interest rate decision of 5 February, and the communication of that decision.
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No gender-based pay gap at the Central Bank
There is no gender-based pay gap at the Central Bank of Iceland, according to an appraisal carried out at the end of last year. The Bank was awarded equal pay certification at the beginning of 2019. The equal pay analysis taken that year showed that there was no unexplained wage gap between the sexes at the time.
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February Monetary Bulletin has been published
February Monetary Bulletin has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The February 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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MPC Meeting with Parliamentary committee
The Act on the Central Bank of Iceland stipulates that the Monetary Policy Committee (MPC) of the Central Bank of Iceland shall submit to Parliament (Althingi) a report on its activities twice a year and that the contents of the report shall be discussed in the Parliamentary committee of the Speaker’s choosing. The nineteenth meeting was held on 6 February 2020, and attendees were Governor Ásgeir Jónsson, Chair of the MPC and Rannveig Sigurðardóttir, Deputy Governor for Monetary Policy.
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Statement of the Monetary Policy Committee 5 February 2020
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 2.75%.
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