Iceland Interest Rate  1998-2017 | Data | Chart | Calendar | Forecast

The Central Bank of Iceland cut its seven-day term deposits rate by 25 bps to 5 percent on December 14th, 2016, amid a stronger crown. The currency appreciated 1.5 percent since the last meeting and was already above the projected average for 2017. In addition, the composition of GDP growth was more favorable, in that exports and business investment weigh more heavily than previously projected. Meanwhile, there is considerable uncertainty about the fiscal stance, as it is unclear at present what the next Government’s economic policy will be. There is unrest in the labor market and uncertainty about the impact of upcoming steps towards capital account liberalization. Interest Rate in Iceland averaged 8.10 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.

Iceland Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-10-05 08:55 AM CBI Interest Rate Decision 5.25% 5.25% 5.25% 5.25%
2016-11-16 08:55 AM CBI Interest Rate Decision 5.25% 5.25% 5.00% 5.25%
2016-12-14 08:55 AM CBI Interest Rate Decision 5% 5.25% 5.25%
2017-02-08 08:55 AM CBI Interest Rate Decision 5%
2017-02-08 09:00 AM Monetary Bulletin
2017-03-15 08:55 AM CBI Interest Rate Decision




Iceland Money Last Previous Highest Lowest Unit
Interest Rate 5.00 5.25 18.00 4.25 percent [+]
Interbank Rate 5.30 5.30 18.47 3.88 percent [+]
Money Supply M0 50778.44 50100.79 50778.44 1.60 ISK Million [+]
Money Supply M1 456215.23 458715.03 458715.03 8.88 ISK Billion [+]
Money Supply M2 993364.43 973698.95 993364.43 0.06 ISK Billion [+]
Money Supply M3 1671663.55 1652253.43 1671663.55 0.03 ISK Billion [+]
Banks Balance Sheet 3286382.00 3287838.00 14896283.00 2757398.00 ISK Million [+]
Foreign Exchange Reserves 805831.26 798887.38 1110305.98 610.00 ISK Million [+]
Deposit Interest Rate 4.85 4.81 39.46 3.03 percent [+]
Central Bank Balance Sheet 937774.08 914044.28 1638738.36 58186.00 ISK Million [+]
Private Debt to GDP 323.51 380.35 380.35 272.98 percent [+]



Iceland Interest Rate Notes

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. Therefore the Bank’s key interest rate is the rate on seven-day term deposits. 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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
5.00 5.25 18.00 4.25 1998 - 2016 percent Daily



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