The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates. The rates will be as follows:
Overnight lending rate
5.75%
Seven-day collateralised lending rate
4.75%
Maximum rate on 28-day certificates of deposit (CDs)
4.5%
Current account
3.75%
Statement of the Monetary Policy Committee 2 November 2011: