Meginmál

MPC decision on interest rates

MPC decision on interest rates

NOTE: This article is from 10. December 2009 and is therefore more than 5 years old.

The Monetary Policy Committee (MPC) has voted to change Central Bank interest rates as follows. The deposit rate (current account rate) will be lowered by 0.5 percentage points to 8.5%. The Central Bank will continue to issue 28-day certificates of deposit (CDs) with a maximum bid rate of 9.75%, which is 0.5 percentage points lower than before. The seven-day collateral lending rate will be lowered by 1 percentage point to 10%, and the overnight lending rate will be lowered by 1.5 percentage points to 11.5%.

No. 37/2009

December 10, 2009