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Central Bank to continue regular programme of foreign currency sales
From Monday 1 February 2021 through the end of the month, the Central Bank of Iceland will sell 3 million euros per business day to market makers in the foreign exchange market, for a total of 60 million euros during the month. The transactions will take place soon after the market opens, and no later than 10:00 hrs. The transactions are in accordance with Press Release no. 30/2020, published on 9 September 2020.
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Survey of market expectations
The survey findings indicate that market agents expect inflation to average 3.7% in Q1/2021 and then ease to an average of 3.3% in Q2 and 2.9% in Q3. They also expect inflation to be close to the Bank’s inflation target in Q1/2022.
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Nordic-Baltic countries engage the IMF to conduct an analysis of cross-border money laundering and terrorist financing risks in the region
The eight countries of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) have taken the initiative to engage the IMF to conduct a regional analysis of money laundering (ML) and terrorist financing (TF) threats and vulnerabilities.
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Foreign exchange market, exchange rate developments, and international reserves 2020
The króna depreciated by 10.4% in 2020, and turnover in the interbank foreign currency market increased by 124% year-on-year. The domestic foreign currency market was strongly affected by the COVID-19 pandemic, and the Central Bank conducted large-scale trades in the market to mitigate volatility and improve price formation.
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Monetary Policy Committee report to Parliament
The Central Bank Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H2/2020 has been posted on the Bank’s website. The report is supplemented by a wide range of supporting material, including separate reports by external committee members.
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