Time of exchange rate listing and publication changes
The time of the listing and publication of the official reference exchange rate of the Icelandic króna will change today, Monday 31 August 2020. From today onwards, the Central Bank of Iceland will fix the official reference exchange rate of the króna at 14:15 hrs. Central European Time (CET) – currently 12:15 hrs. Icelandic time. The reference exchange rate will then be published on the Central Bank’s website each business day at 16:00 hrs. Icelandic time and not at 11:00 hrs., as before.
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Special temporary collateralised lending framework for COVID support loans
As is mentioned in the Central Bank press release of 24 June 2020, the Bank will offer commercial banks and savings banks special collateralised loans bearing a 100% Treasury guarantee, in connection with COVID-related support loans. The collateralised loans will be offered beginning on 2 September 2020.
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August Monetary Bulletin has been published
August Monetary Bulletin has been published on the Central Bank's website. Monetary Bulletin is published four times a year. The August 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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Interest rate decision, webcast and Monetary Bulletin release - today
The Bank published the Monetary Policy Committee’s (MPC) interest rate decision on its website today at 08:55, followed by Monetary Bulletin at 09:00 hrs. Beginning an hour later, at 10:00 hrs., will be a press conference where an explanation will be given for the rationale behind the Committee’s decision. The contents of the new issue of Monetary Bulletin will also be presented at that time.
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Statement of the Monetary Policy Committee 26 August 2020
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 1%.
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