Iceland Interest Rate  1998-2016 | Data | Chart | Calendar | Forecast

The Central Bank of Iceland lowered its seven-day term deposits rate 50bps to 5.25 percent on August 24th, the first cut in almost two years, saying it will be possible to keep inflation at target over the medium term with a lower interest rate than was previously considered necessary. Inflation fell to a 17-month low of 1.1 percent in July 2016, as large pay increases and a wider positive output gap were offset by improved terms of trade, low global inflation, tight monetary policy and the appreciation of the króna. Meanwhile, the central bank revised up its growth forecast for 2016 to 4.9 percent (from 4.5 percent); and for 2017 to 4.1 percent (from 4 percent). Interest Rate in Iceland averaged 8.17 percent from 1998 until 2016, reaching an all time high of 18 percent in October of 2008 and a record low of 4.25 percent in February of 2011. Interest Rate in Iceland is reported by the Central Bank of Iceland.

Iceland Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
5.25 5.75 18.00 4.25 1998 - 2016 percent Daily
In Iceland, the benchmark interest rate is set by the board of Governors of the Central Bank of Iceland (Seðlabanki Íslands). The main interest rate is the seven-day term deposit rate since May 2014. Previously the Bank’s key rate was the rate on its collateralised loans to financial institutions, but in the wake of the crisis the interest rate on the Bank’s deposits had greater influence on money market, as demand for Central Bank loans had been limited. This page provides - Iceland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Interest Rate - actual data, historical chart and calendar of releases - was last updated on August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-11 08:55 AM CBI Interest Rate Decision 5.75% 5.75% 5.75%
2016-06-01 08:55 AM CBI Interest Rate Decision 5.75% 5.75% 5.75% 5.75%
2016-08-24 08:55 AM CBI Interest Rate Decision 5.25% 5.75% 5.75% 5.75%
2016-10-05 08:55 AM CBI Interest Rate Decision 5.25% 5.25%
2016-10-12 09:00 AM Financial Stability Report
2016-11-16 08:55 AM CBI Interest Rate Decision 5.25%

Iceland Money Last Previous Highest Lowest Unit
Interest Rate 5.25 5.75 18.00 4.25 percent [+]
Interbank Rate 5.80 5.80 18.47 3.88 percent [+]
Money Supply M0 49815.66 48784.85 49815.66 1.60 ISK Million [+]
Money Supply M1 426.48 423.80 408197.82 8.88 ISK Billion [+]
Money Supply M2 959.73 943.05 937310.61 0.06 ISK Billion [+]
Money Supply M3 1671.14 1646.09 1626880.59 0.03 ISK Billion [+]
Banks Balance Sheet 3224300.00 3243094.00 14896283.00 2757398.00 ISK Million [+]
Foreign Exchange Reserves 721114.01 699022.17 1110305.98 610.00 ISK Million [+]
Deposit Interest Rate 4.85 4.81 39.46 3.03 percent [+]
Central Bank Balance Sheet 902894.58 881162.82 1637813.00 58186.00 ISK Million [+]
Private Debt to GDP 365.09 272.98 365.09 272.98 percent [+]




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