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:

Press release 27/2011 MPC Statement (pdf)