Monetary Bulletin published
The Monetary Bulletin, 2023/4, has been posted on this website. Monetary Bulletin is published four times a year. In early May and early November, it contains an inflation and macroeconomic forecast, together with an in-depth analysis of economic and monetary developments and prospects. The February and August issues include updated inflation and macroeconomic forecasts and an abbreviated report on economic and monetary developments and outlook.
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Statement of the Monetary Policy Committee 22 November 2023
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 9.25%. Inflation fell slightly between months and measured 7.9% in October. Underlying inflation has subsided as well. Indicators continue to suggest a slowdown in private consumption and investment.
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Statement of the Monetary Policy Committee and publication of Monetary Bulletin - today
A statement of the Monetary Policy Committee was published on the Central Bank of Iceland website at 08:30 hrs. today, 22 November 2023. The Bank’s Monetary Bulletin was published at 08:35 hrs. At 9:30 hrs., a webcast from a press conference on the statement and the contents of the Monetary Bulletin will begin. At the press conference Ásgeir Jónsson, Governor and Monetary Policy Committee chair; Rannveig Sigurðardóttir, Deputy Governor for Monetary Policy and MPC vice-chair; and Thórarinn G. Pétursson, Chief Economist of the Central Bank will introduce and discuss the statement and report.
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Survey of market expectations
The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 6-8 November. A total of 38 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, licensed asset management firms, and insurance firms were invited to participate. Responses were received from 30 market participants, giving a response ratio of 79%.
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Minutes of the Financial Stability Committee meeting of September 2023
The Financial Stability Committee of the Central Bank of Iceland takes decisions on the application of the Bank’s financial stability policy instruments. At the meeting of 18 and 19 September 2023, presentations were given on economic developments and prospects and the state of the financial system and payment intermediation infrastructure. The Committee discussed the current situation and outlook for financial stability and the principal risks to financial stability, such as economic developments, risks in the operations of financial institutions and the financial system, developments in domestic financial markets, household and corporate debt, the real estate market, the efficacy of borrower-based measures, financial institutions’ capital and liquidity position, and the financial cycle. The FSN was also given a presentation on the methodology for designating systemically important financial institutions (D-SIB) and a presentation on the results of the annual stress test on the D-SIBs.
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