Minutes of the MPC
Here are the minutes of the Monetary Policy Committee of the Central Bank of Iceland from the meeting held on 11 and 12 December 2017. There, the Committee discussed economic and financial market developments, the interest rate decision on 13 December, and the communication of that decision.
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S&P Global Ratings today affirmed its sovereign credit ratings on the Republic of Iceland with a stable outlook
S&P Global Ratings today affirmed its 'A/A-1' sovereign credit ratings on the Republic of Iceland with a stable outlook. Today S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Republic of Iceland at 'A/A-1'. The outlook is stable and balances the potential for improvements in Iceland's fiscal position against the risks of the economy overheating in the next two years.
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Economic Indicators 22 December 2017
The Central Bank of Iceland’s Economic Indicators report for December 2017 has been released and can be found here on the Bank’s website. The publication contains information on developments in prices, output, external trade, the labour market, public sector finances, asset markets, and the financial market. The information is published in chart form, and underlying data can be called up in spreadsheet format.
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Statement of the Monetary Policy Committee 13 December 2017
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 4.25%. According to the newly published national accounts, GDP growth in the first nine months of the year measured 4.3%, more than previous figures had indicated. As a result, the outlook for 2017 as a whole is for stronger GDP growth than was forecast in the November Monetary Bulletin. Export growth continues to ease, while domestic demand is growing faster than previously projected, owing in part to more fiscal slack in 2017 than was previously expected.
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Interest rate decision and webcast
Wednesday 13 December, the Central Bank of Iceland will air webcast explaining the Monetary Policy Committee‘s interest rate decision. At 08:55, the interest rate decision will be announced on the Bank‘s website and an hour later, at 10:00, a webcast will begin. Már Guðmundsson, Governor of the Central Bank of Iceland and Chairman of the Monetary Policy Committee, and Arnór Sighvatsson, Deputy Governor and Monetary Policy Committee member, will explain the rationale behind the Committee‘s decision.
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