FOREX TradingCharts.com

Financial News: Iceland Holds Key Interest Rate Steady Again

Iceland Holds Key Interest Rate Steady Again

03/24/2021 - 06:35:00 (RTTNews)

(RTTNews) - Iceland's central bank left its key interest rate unchanged for a second policy session in a row, citing stronger than projected economic activity in recent quarters and slowing inflation.

The Monetary Policy Committee decided to keep the key interest rate, which is the rate on seven-day term deposits, unchanged at 0.75 percent, the Central Bank of Iceland said in a statement Wednesday.

The previous change in the rate was a quarter-point reduction in November.

Economic contraction in 2020 was 6.6 percent, which was slower than the 7.7 percent shrinkage that the bank projected in February.

While recent surveys and other indicators suggest a continuing recovery, uncertainty is pronounced, the bank said.

Domestic as well as foreign economic developments will depend on the path of the coronavirus pandemic and the progress made in vaccination, the bank added.

Effects of last year's depreciation of the króna still weigh heavily but have probably begun to subside, the bank said.

The currency appreciated recently and inflation slowed in February.

"As a result, the outlook is for inflation to start tapering off this spring, although the near-term outlook has probably deteriorated since February," the bank said.

Though inflation expectations have risen slightly, the bank said it is too soon to determine whether they have become less firmly anchored to the inflation target of 2.5 percent.

The next policy session is scheduled for May 19.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Consumer Confidence Index Jumps 6.2% In April - Westpac (02 hr(s), 52 min(s), 39 sec(s) ago)
(RTTNews) - Consumer confidence in Australia spiked in April, the latest survey from Wetspac Bank ...Full Story»

Singapore GDP Climbs 2.0% In Q1 - Advance Estimate (03 hr(s), 07 min(s), 39 sec(s) ago)
(RTTNews) - Singapore's gross domestic product expanded a seasonally adjusted 2.0 percent on q ...Full Story»

Japan Core Machine Orders Plummet 8.5% On Month In February (03 hr(s), 22 min(s), 39 sec(s) ago)
(RTTNews) - The value of core machine orders in Japan tumbled a seasonally adjusted 8.5 percent on ...Full Story»

Singapore GDP Jumps 2.0% In Q1 - Advance Estimate (03 hr(s), 38 min(s), 39 sec(s) ago)
(RTTNews) - Singapore's gross domestic product gained a seasonally adjusted 2.0 percent on qua ...Full Story»

Japan Core Machine Orders Tumble 8.5% On Month In February (03 hr(s), 52 min(s), 39 sec(s) ago)
(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 8.5 percent o ...Full Story»

Australia Interest Rate Decision Due On Wednesday (05 hr(s), 57 min(s), 39 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Wednesday an ...Full Story»

South Korea Export Prices Rise 3.3% On Month In March (06 hr(s), 15 min(s), 39 sec(s) ago)
(RTTNews) - Export prices in South Korea were up 3.3 percent on month in March, the Bank of Korea ...Full Story»

German ZEW Economic Sentiment Falls Unexpectedly In April (15 hr(s), 32 min(s), 39 sec(s) ago)
(RTTNews) - German economic sentiment deteriorated unexpectedly in April amid the third wave of in ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Consumer Confidence Index Jumps 6.2% In April - Westpac

04/13/2021 - 21:05 PM (RTTNews)
(RTTNews) - Consumer confidence in Australia spiked in April, the latest survey from Wetspac Bank ...Full Story>>

Singapore GDP Climbs 2.0% In Q1 - Advance Estimate

04/13/2021 - 20:50 PM (RTTNews)
(RTTNews) - Singapore's gross domestic product expanded a seasonally adjusted 2.0 percent on q ...Full Story>>

Japan Core Machine Orders Plummet 8.5% On Month In February

04/13/2021 - 20:35 PM (RTTNews)
(RTTNews) - The value of core machine orders in Japan tumbled a seasonally adjusted 8.5 percent on ...Full Story>>

Singapore GDP Jumps 2.0% In Q1 - Advance Estimate

04/13/2021 - 20:19 PM (RTTNews)
(RTTNews) - Singapore's gross domestic product gained a seasonally adjusted 2.0 percent on qua ...Full Story>>

Japan Core Machine Orders Tumble 8.5% On Month In February

04/13/2021 - 20:05 PM (RTTNews)
(RTTNews) - The value of core machine orders in Japan was down a seasonally adjusted 8.5 percent o ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.