| Publication | Boxes | Appendices | Year |
|---|---|---|---|
| Tables 63 | 2025 | |
| Forecast tables p. 85 | 2024 | |
| Tables p. 69 | 2024 | |
| Forecast tables p. 65 | 2024 | |
| Tables p. 54 Definitions p. 59 | 2024 | |
| Number of entities regulated by the Central Bank of Iceland Financial Supervisory Authority p. 38 Activities of foreign entities in Iceland p. 39 | 2024 | |
| Forecast tables p. 95 | 2024 | |
| Forecast tables p. 67 | 2023 | |
| Tables p. 53 Definitions p. 58 | 2023 | |
| Number of entities regulated by the Central Bank of Iceland Financial Supervisory Authority p. 33 Activities of foreign entities in Iceland p. 34 | 2023 | |
| Forecast tables p.76 | 2022 | |
| Forecast tables p.58 | 2022 | |
| Tables p. 56 Definitions p. 61 | 2022 | |
| Number of entities regulated by the Central Bank of Iceland Financial Supervisory Authority p. 36 Activities of foreign entities in Iceland p. 37 | 2022 | |
| Tables p.56 Definitions p. 61 | 2021 | |
| 2021 | ||
| Snapshots of domestic and foreign economic activity in the midst of a global pandemic p.65 Forecast tables p. 67 Report to the Government on inflation above the deviation threshold p.68 | 2021 | |
| Tables p. 53 Glossary p. 58 | 2021 | |
| Snapshots of domestic and foreign economic activity in the midst of a global pandemic p. 52 Forecast tables p. 54 | 2020 | |
| Tables p.55 Glossary p. 60 | 2020 | |
| Forecast tables p. 31 | 2020 | |
| Forecast tables p. 61 | 2019 | |
1. Economic recessions in Iceland since 1975 p. 47 2. Economic resilience as the cycle turns p. 52 3. Fiscal measures in relation to the new wage agreements p. 57 4. Newly concluded private sector wage agreements p. 58 | Forecast tables p. 61 | 2019 | |
1. Foreign exchange market p. 18 2. Risk premia, loan premia, and interest rate differentials p. 34 | Charts p. 41 Tables p. 61 Glossary p. 66 | 2019 | |
1. The transmission of the Central Bank policy rate to other interest rates p. 47 2. The Icelandic economy a decade after the financial crisis p.51 3. Fiscal budget proposal for 2019 p.54 4. The total wage index p. 58 5. The Central Bank of Iceland forecasting record p. 60 | Forecast tables p. 65 | 2018 | |
1. Special reserve requirement on capital inflows and private sector financing conditions p. 47 2. New statistics on labour volume and productivity p. 51 3. New measure of capacity utilisation p.53 4. Underlying inflation as measured by the common component of the CP p. 55 | Forecast tables p. 57 | 2018 | |
1. Airbnb´s impact on the housing market p. 14 2. Financial market infrastructure p. 30 | Charts p. 43 Tables p. 63 Glossary p. 68 | 2018 | |
1. Fluctuations in the ISK exchange rate in international context p. 47 2. Special reserve requirement on capital inflows p. 51 3. The baseline forecast compared to a forecast from the Bank’s DSGE model p.54 4. Recent revision of the national accounts p. 57 5. Fiscal budget proposal 2018 p. 58 6. The Central Bank of Iceland forecasting record p. 61 | Forecast tables p. 67 | 2017 | |
Additional scenario p. 30 | Charts p. 31 Tables p. 55 Glossary p. 60 | 2017 | |
1. The current account balance and national saving p. 51 2. The surge in tourism and its divergent effects on various measures of inflation p. 55 3. Lower and more stable inflation and firmer anchor for inflation expectations p. 57 | Forecast tables p. 63 | 2017 | |
1. The current account balance and national saving p.51 2. The surge in tourism and its divergent effects on various measures of inflation p.55 3. Lower and more stable inflation and firmer anchor for inflation expectations p.57 | Forecast tables p.63 | 2017 | |
1. Capital account liberalisation p.14 2. Ample liquidity p. 28 | Charts p.35 Tables p.57 Glossary p. 61 | 2017 | |
1. Capital flows and the Central Bank's new capital flow management measure p. 49 2. The housing component of the consumer price index p. 57 3. The Central Bank of Iceland forecasting record p. 61 4. Report to the Government on inflation below the lower deviation limit p. 67 | Forecast tables p. 71 | 2016 | |
1. Improved terms of trade and rising economic prosperity p.45 2. First Statistics Iceland figures on 2015 wage costs and revision of previous figures p. 49 3. Has the equilibrium real exchange rate risen? p. 51 4. Iceland's external position in historical and international context p. 54 5. Why has inflation been so low in the past two years? p.57 | Forecast tables p. 61 | 2016 | |
1. Financial Stability Council recommendations on capital buffers p. 31 2. The financial cycle in Iceland p. 49 3. A simple household debt model p. 64 | The composition agreements of the failed banks' estates p. 69 Macroprudential policy in the Nordic-Baltic region p. 75 Financial system assets - Tables p. 78 Financial core indicators for the three largest commercial banks p. 79 Nordic comparison p. 80 | 2016 | |
1. Recent turbulence in the domestic bond market: capital inflows and reduction of nominal long-term interest rates p. 49 2. Impact of exchange rate movements on external trade and terms of trade p. 52 3. Fiscal budget proposal 2016 p. 58 4. Assumptions concerning wage developments in Central Bank forecasts p. 62 5. Updated Central Bank of Iceland macroeconomic model p. 65 6. The Central Bank of Iceland forecasting record p. 67 | Forecast tables p. 73 | 2015 | |
1. Financial System: outlook and main risks p. 5 2. Central Bank FX purchases p. 14 3. Underlying current account balance p. 21 4. Capital buffers p. 39 5. Review of interest rates on private sector loans p. 63 6. Prudential rules following capital controls p. 85 | The marcroprudential policy in Iceland and the Nordic and Baltic countreis p. 81 FSI core indicators for the three largest commercial banks p. 88 Nordic comparison p. 89 | 2015 | |
1. Risk premia and estimates of inflation expectations in the bond market p. 43 2. Inflation expectations in the run-up to wage settlements: comparison with 2011 p. 46 3. New data to estimate slack or tension in the labour market p. 47 4. Monetary Policy Committee voting pattern: six years' experience p. 49 5. Estimating underlying inflation using a dynamic factor model p. 53 | Forecast tables p. 55 | 2015 | |
1. New national accounts standards p. 45 2. National budget proposal 2015 p. 49 3. The Central Bank of Iceland forecasting record p. 55 | Forecast tables p. 61 | 2014 | |
1. Financial system: outlook and key risks p. 5 | FSI core indicators for the three largest commercial banks p. 35 Nordic comparison p. 36 | 2014 | |
1. Enhanced economic stability and the role of monetary policy p. 14 2. Post-crisis developments in money holdings p. 33 3. The economic impact of Central Bank foreign currency auctions p. 41 4. Indicators of developments in imports based on cross-border payment intermediation orders p. 44 5. Bill of legislation on fiscal framework reform p. 52 6. New wage settlements p. 62 | Baseline macroeconomic and inflation forecast 2014/2 p. 74 | 2014 | |
1. Financial System: outlook and main risks p. 5 2. Current account balance, investment, and saving p. 12 3. Foreign loan repayments p. 28 4. International leverage ratio p. 40 5. Recommendations from the expert group on abolition of indexation on new consumer loans p. 66 6. Macroprudential policy in the Nordic countries p. 101 | Macroprudential tools and indicators for systemic risk assessment p. 87 Iceland's international investment position: current situation and medium-term outlook p. 105 FSI core indicators for the three largest commercial banks p. 113 Nordic comparison p. 114 | 2014 | |
1. Reasons for the post-crisis deterioration in terms of trade p. 21 2. Effects of money market inefficiencies on monetary policy transmission and reliability of indicators of market expectations p. 26 3. Various measures of economic activity and performance p. 34 4. Indicators of internal adjustment of the economy and the shift of production from the non-tradable to the tradable sector p. 44 5. National budget proposal for 2014 p. 53 6. Equilibrium unemployment in Iceland p. 62 | Baseline macroeconomic and inflation forecast 2013/4 p. 74 The Central Bank of Iceland forecasting record p. 75 Report to the Covernment on inflation in excess of tolerance limits p. 83 | 2013 | |
1. The financial system: outlook and main risks p. 5 | Settlement of the failed banks' estates p. 28 Financial system assets p. 31 FSI core indicators for the three largest commercial banks p. 31 Nordic comparison p. 32 | 2013 | |
1. Why is the policy rate higher in Iceland than in other developed countries? 15 Payments to households in the wake of the financial crisis p. 35 | Baseline macroeconomic and inflation forecast 2013/2 p. 59 | 2013 | |
1. Financial System: outlook and main risks p. 5 2. Corporate bond issuance p.15 3. Central Bank's foreign currency auctions p. 27 4. Housing Financing Fund p. 35 5. Housing mortgages: Non-indexed vs. indexed p. 56 6. New liquidity rules p. 69 7. Indexation imbalance p. 79 8. Claims on the failed banks, distributions and the amount of outstanding claims p. 95 | Nordic comparison p. 99 FSI core indicators for the three largest commercial banks p.101 | 2013 | |
1. Post-crisis economic developments and Central Bank forecasts p. 10 Investment in the aftermath of financial crises p. 18 Seasonal adjustment of GDP p.39 National budget proposal for 2013 p. 47 Post-crisis developments in unemployment p. 56 Changes in Central Bank forecasts of the trade balance p. 61 | Baseline macroeconomic and inflation forecast 2012/4 p. 69 The Central Bank of Iceland forecasting record p. 70 | 2012 | |
1. The financial system: outlook and main factors of uncertainty p.5 | Nordic comparison p. 37 | 2012 | |
1. The Icelandic rental market p. 25 2. Using high-frequency indicators to forecast private consumption p. 29 3. The outlook for Iceland's external debt and payment flows p. 46 | Baseline macroeconomic and inflation forecast 2012/2 p. 56 | 2012 | |
1. The euro area debt crisis p. 8 2. Review of interest rates on private sector loans p. 29 3. Household debt according to income tax returns p. 35 4. Covered bonds p. 42 5. The largest commercial banks' Q1/2012 financial statements p. 51 6. Exchange rate-linked loans: Court decisions and impact on financial institutions p. 53 7. What restrictions do the capital controls entail? p. 57 8. Capital controls: the impact on asset prices p. 67 | New Payment Services Act and proposed legislation on issuance and handling of electronic money p.77 Nordic comparison p. 83 | 2012 | |
1. Housing owned by the Housing Financing Fund and the banks p. 25 2. Why did Iceland's potential output contract in the wake of the financial crisis? p. 38 3. National Budget Proposal 2012 p. 44 4. The flexibility of the Icelandic labour market and migration flows p. 52 5. Is the increase of equilibrium unemployment reversing? p. 55 | Baseline macroeconomic and inflation forecast 2011/4 p. 66 The Central Bank of Iceland forecasting record p. 67 | 2011 | |
1. Outlook and major risks p. 5 | Nordic comparison p. 30 | 2011 | |
1. Housing bubbles p. 23 2. Survey of large corporations' investment p. 29 3. Exchange rate pass-through p. 46 | Baseline macroeconomic and inflation forecast 2011/2 p. 49 | 2011 | |
1. Main vulnerabilities and resilience factors p. 5 2. Central Bank of Iceland Rules on Foreign Exchange Balance and Liquidity Ratio p. 20 3. Banks' service locations and ATMs p. 27 | DMBs' balance sheets 31 March 2011 p. 31 Principal regulatory and statutory amendments related to the financial market 2010-2011 p. 62 | 2011 | |
1. Main vulnerabilities and resilience factors p. 5 | DMBs’ balance sheets 31.10. 2010 p. 22 | 2010 | |
1. Foreign direct investment and output growth p. 22 2. Assumptions concerning investment in heavy industry in the Central Bank’s baseline forecasts p. 35 3. The Icelandic contraction and timing of recovery in international context p. 37 4. National Budget 2011 p. 45 5. Productivity development and employment growth p. 52 |
| 2010 | |
1. Main vulnerabilities and resilience factors p. 5 2. Icelandic State Financial Investments p. 51 3. Corporate default modelling p. 52 4. The macroprudential approach to financial stability p. 66 | National Credit Register p. 75 | 2010 | |
1. Capital controls and their role in the economic recovery p. 16 2. Terms of trade and real exchange rate p. 24 3. Real estate market developments p. 30 4. Central bank balance sheet expansion in the financial crisis p. 32 5. Fluctuations in private consumption p. 44 6. Changes in measurement of employment p. 56 7. New method for estimating foreign direct investment p. 61 8. The balance of payments outlook p. 62 | Baseline macroeconomic and inflation forecast 2010/2 p. 69 Errors in Central bank forecasts p. 70 | 2010 | |
1. Developments in house prices: Different calculation methods point in the same direction p. 36 2. Baseline macroeconomic and inflation forecast 2009/4 p. 55 |
| 2009 | |
1. Regulatory responses to the financial crisis p. 12 2. The Emergency Act 18 Financial Stability reports 2008 p. 21 3. Operating payment systems in the wake of the financial crisis p. 35 4. Central bank liquidity facilities p.43 5. Deposit insurance p. 68 6. Kaarlo Jännäri´s recommendationsp. 80 7. Financial supervisory authorities p. 86 8. National Credit Register p. 88 9. Financial crisis timeline: autumn 2008 – spring 2009 p. 90 | 2009 | ||
1. The outlook for aluminim prices p. 15 2. The offshore market for krónur p. 21 3. Facing the "impatient investor" challenge p. 25 4. Unemployment and fi nancial crisis p. 39 5. Foreign debt and balance on income p. 46 6. Updated macroeconomic model p. 54 | Baseline macroeconomic and inflation forecast 2009/2 p. 56 Forecast errors in Central Bank of Iceland inflation forecasts p.57 | 2009 | |
1. Global fi nancial crisis deepens p. 12 2. Domestic asset prices and the Bank of England fi nancial market liquidity index p. 20 3. Sudden stop of international capital infl ows p. 25 4. Sustainability of public sector debt p. 29 | Baseline macroeconomic and inflation forecast 2008/3 p. 40 | 2008 | |
1. Analysis of financial stability 2000-2008 p. 13 2. Financial market turmoil- causes and consequences p. 17 3. Households’ foreign debt p. 26 4. Household debt according to income tax return data p. 29 5. Household debt service p. 32 6. The importance of averting a financial crises p. 38 7. Stress tests and contingency exercises p. 46 8. The relationship between equity prices and the exchange rate of the króna p. 52 9. The ten Core Principles for systemically important payment system p. 80 10. Recommendations for securities settlement systems p. 84 | Credit risk and assessment of the resilience for the largest commercial banks p. 61 Credit default swaps and pricing determinants p. 69 Liquidity rules and liquidity management p. 75 Settlements in foreign currency p. 86 | 2008 | |
1. Inflation developments in emerging market economies and monetary policy restraint p. 13 2. The importance of well-functioning financial markets p. 20 3. Changes in the macroeconomic forecast from Monetary Bulletin 2008/1 p. 25 4. The housing market in a global context p. 28 5. The effect of exchange rate movements on inflation p. 44 6. Changes in the inflation forecast from Monetary Bulletin 2008/1 p. 49 7. Alternative scenarios p. 54 8. The Central Bank of Iceland's foreign exchange reserves p. 70 | Baseline macroeconomic and inflation forecast 2008/2 p. 56 Financial market analysts' assessments of the economic outlook p. 57 Iceland and Latvia: Macroeconomic and monetary policy p. 59 Outlook for EMU expansion in coming years p. 62 | 2008 | |
1. The importance of anchoring inflation expectation p.10 2. The impact of the US sub-prime crisis p. 19 3. The recent turmoil in the Icelandic foreign exchange market p. 26 4. Changes in the macroeconomic forecast from Monetary Bulletin 2007/3 p. 35 5. Government involvement in wage settlements: Cost to the Treasury p.38 6. Wage settlements 2008 p. 42 7. Changes in the inflation forecast from Monetary Bulletin 2007/3 p. 55 8. Alternative scenarios p. 60 | Baseline macroeconomic and inflation forecast 2008/1 p. 63 Financial market analysts' assessments of economic outlook p. 64 Forecast errors in Central Bank of Iceland inflation forecasts p. 66 The macroeconomic impact of fiscal policy p. 71 | 2008 | |
1. Inflation above tolerance limits 6 The policy interest rate according to the Taylor rule and the effects of revised estimates of the output gap p. 12 2. The effects of rising commodity prices on consumer prices and the national economy p. 16 3. Globalisation and monetary policy in Iceland p. 22 4. The impact of the publication of the Central Bank’s policy rate path on forward interest rates and the effectiveness of monetary policy p. 26 5. The effects of monetary policy on private consumption p. 32 6. Further investment in aluminium and power plants? p. 35 7. Changes from the macroeconomic forecast since Monetary Bulletin 2007/2 p. 37 8. Changes to the inflation forecast from Monetary Bulletin 2007/2 p. 55 9. Alternative scenarios p. 58 | Baseline macroeconomic and inflation forecast 2007/3 p. 62 Financial market analysts’ assessments of the economic outlook p. 63 Estimating Iceland’s equilibrium real exchange rate p. 65 | 2007 | |
1. Financial soundness analysis 2000-2007 p. 11 2. Intangible assets of listed companies p. 27 3. Central Bank responses to shifts in the commercial banks' capital market funding p. 43 4. Measures to strengthen the Central Bank's foreign reserves p. 46 5. Transactions by banks with major shareholders and executives p. 52 6. The development of credit institutions' foreign exchange balances p. 54 7. New capital standards p. 58 8. Methodology for estimating expected defaul p 68 9. The impact of an influenza epidemic on the financial system p. 78 | Household debt, assets and debt service p. 33 Estimating the commercial banks' loan portfolio quality p. 62 | 2007 | |
1. Financial market analysts' assessments of the economic outlook p. 23 2. Estimating underlying inflation p. 32 3. Changes in the baseline forecast from Monetary Bulletin 2007/1 p. 38 4. Alternative scenarios p. 40 | Macroeconomic and inflation forecast 2007/2 p. 43 New inflation-targeting countries p. 44 | 2007 | |
1. Financial market analysts' assessments of the economic outlook p. 30 2. The impact of foreign labour on inflation p. 37 3. Increased stocks of foreign assets and liabilities heighten volatility in net investment income p. 45 4. Base effects in the CPI 50 Calculation of confidence intervals p. 56 5. Alternative scenarios p. 58 | Financial dollarisation and the effectiveness of monetary policy p. 60 Similar economic situations in Iceland and New Zealand p. 64 Macroeconomic and inflation forecast 2007/1 p. 66 | 2007 | |
1. Financial market analysts' assessments of the economic outlook p. 42 2. Inflation developments in the face of a large króna depreciation p. 50 | The transmission mechanism of monetary policy in the Central Bank’s quarterly macroeconomic model p. 57 Forecast errors in Central Bank of Iceland inflation forecasts p. 61 | 2006 | |
1. Global economic imbalances 8 Credit default swaps (CDSs) p. 27 2. Takeover panel p. 29 3. Multilateral trading facility p. 30 4. Corporate governance and investor relations p. 32 5. The Housing Financing Fund p. 34 6. New capital adequacy rules p. 58 7. FME stress testing p. 63 8. Icelandic payment and settlement systems p. 81 9. Money laundering p. 85 | Simulations with the Central Bank's macroeconomic model p. 37 Iceland's external assets and debt p. 42 Estimation of potential loan losses p. 64 Credit ratings of Icelandic commercial banks p. 69 | 2006 | |
1. Major uncertainties still loom over further aluminium investment plans p. 23 2. Review of private sector wage agreements p. 36 3. Revised CPI base p. 45 4. Financial market analysts' assessments of the economic outlook p. 47 5. New presentation of the macroeconomic and inflation forecast p. 52 | 2006 | ||
1. Króna-denominated Eurobond issues 16 The economic impact of the US military withdrawal from Iceland p. 22 2. Plans for more aluminium smelters p. 26 3. Estimating the output gap p. 29 4. Central Bank inflation forecasting methods p. 46 5. Financial market analysts’ assessments of the economic outlook p. 50 6. Foreign exchange market highlights 2005 p. 64 | New quarterly macroeconomic model p. 59 | 2006 | |
1. Financial market analysts‘ assessments of the economic outlook p. 35 2. The exchange rate of the króna and the interest-rate differential with abroad p. 46 3. Amendment to the joint declaration of the Government of Iceland and the Central Bank of Iceland from March 27, 2005 p. 49 | 2005 | ||
1. National accounts – chain-linking and revision for 1990-2003 p. 21 2. Errors and omissions in the balance of payments p. 37 3. Financial market analysts’ assessments of the economic outlook p. 43 4. Non-residents‘ issues of króna-denominated bonds p. 68 | Inflation target misses: A comparison of countries on inflation targets p. 58 What do exchange rate indices measure? p. 63 | 2005 | |
1. The US current account deficit p. 8 2. The status of aluminium and hydropower sector investments p. 18 3. Changed method of calculating mortgage interest cost in the housing component of the CPI p. 31 4. Financial market analysts' assessments of the economic outlook p. 32 | Forecast errors in Central Bank of Iceland forecasts p. 39 | 2005 | |
1. The aluminium industry investment projects p. 26 2. Budgetary effect of the boom p. 31 3. Financial market analysts’ assessments of the economic outlook p. 42 4. Foreign exchange market highlights 2004 p. 74 5. Domestic currency and swap markets p. 77 | Forward interest rates and their application in Central Bank analysis p. 52 Calculating the output gap p. 56 Uncertainty in the Central Bank’s inflation forecast p. 60 What mortgage options are currently available to homebuyers? p. 64 The real exchange rate of the króna in a historical and international context p. 68 | 2005 | |
1. Main changes in the housing market in 2004 p. 13 2. The impact of the banks’ new mortgage loans on private consumption p. 17 3. Revised plans for smelter and power station construction p. 20 4. Balance on income p. 31 5. Financial market analysts’ assessments of the economic outlook p. 39 6. Central Bank regulatory changes and market measures and their impact on liquidity since January 2003 p. 48 7. Foreign exchange market activity p. 51
| Taxes, benefits and official charges on housing transactions p.64 | 2004 | |
1. The impact on the CPI of changes in the housing finance market p. 6 2. Financial market analysts’ assessments of the economic outlook p. 10 3. The macroeconomic impact of oil prices p. 12 4. An international comparison of household debt p. 37 5. Household debt and the planned extension of public housing finance p. 39 6. Sound practices in foreign currency liquidity management p. 49 | Internationalisation of the financial system requires ongoing adaptation of the Central Bank’s tasks p. 55 Monetary policy implementation: an international comparison p. 77 | 2004 | |
1. The economic impact in Iceland of changes in foreign interest rates p. 6 2. Labour market statistics: a discrepancy or a question of definitions? p. 14 3. Aluminium and power sector investments p. 20 4. Financial market analysts’ assessments of the economic outlook p. 25 | Housing price indices – measurement methodologies p. 29 Was there a productivity miracle in 2003? p. 33 Forecast errors in Central Bank of Iceland inflation forecasts p. 36 | 2004 | |
1. Wage settlements p. 9 2. Financial market analysts’ assessments of the economic outlook p.16 3. The economic impact of the east Iceland aluminium and hydropower projects p. 21 4. Liquidity forecast model p. 25 5. Foreign exchange market highlights 2003 p. 27 6. Reclassification of lending and marketable securities p. 39 7. Credit ratings agencies’ reports on the Icelandic financial system in 2003 p. 46 8. Inflation and the evolution of inflation targeting p. 79 | The foreign debt position of commercial and savings banks and systemic reforms p. 52 | 2004 | |
1. The housing component of the CPI p. 6 2. Survey of Icelandic business sentiment p. 13 3. Investment in the aluminium industry p. 27 4. Financial market analysts’ assessments of the economic outlook p. 31 5. The housing component of the CPI and monetary policy p. 39 6. Iceland – Financial System Stability Assessment p. 56 7. Financial Soundness Indicators p. 58 8. Changes to housing finance arrangements and their impact on financial stability p. 64 | Iceland’s national debt p. 41 Public support for homebuyers in Iceland and elsewhere p.45 Comparison of Nordic commercial banks 1998-2002 p. 75 Securities portfolios of the commercial banks and six largest savings banks p. 77 | 2003 | |
1. The position and outlook in the fisheries sector – what is the explanation for poorer profitability? p.9 2. Financial market analysts’ assessments of the economic outlook p. 20 | Index of deflation vulnerability p. 26 Comparison of inflation-targeting countries’ inflation reports p. 29 | 2003 | |
1. The global economic situation and prospects and their impact on the Icelandic economy p. 8 2. Survey of Icelandic business sentiment p. 12 3.The economic cycle and public sector finances over the past decade p. 20 4. Financial market analysts’ assessments of the economic outlook p. 28 5. IMF Global Financial Stability Report p. 43 6. The impact of interest rate changes, inflation and exchange rate changes on household and business finances p. 44 7. Changes in ownership of financial companies p. 54 8. Credit ratings p. 58 9. Types of foreign exchange transaction risk 76 10. Supervisory Guidance for Managing Settlement Risk in Foreign Exchange Transactions p. 80 | The exchange rate and international price comparisons p. 32 | 2003 | |
1. Forecasting errors in Central Bank inflation forecasts p. 6 2. Survey of finance market analysts’ assessments of the economic outlook p. 21 3. Deflation p. 27 4. The effects of foreign exchange interventions on banking system’s balance sheets p. 51 5. The Central Bank of Sweden’s procedures on foreign exchange market interventions p. 58 6. Special foreign exchange trades by the Central Bank of Iceland in 2001 and the preannounced program to buy back foreign currency in 2002-2003 p. 64 7. Central Bank interventions in the foreign exchange market in the build up to and wake of the changed monetary policy framework in March 2001 p. 68 8. Empirical evaluation of the effect of Central Bank interventions on the exchange rate of the króna 1998-2001 p. 71 | Evaluation of the macroeconomic impact of the planned aluminium and power plant investments and possible economic policy responses to them p. 30 Evaluation of the macroeconomic impact of the planned aluminium and power plant investments and possible economic policy responses to them p. 131 | 2003 | |
1. Different measures of core inflation p. 5 2. Survey of Icelandic business sentiment p. 11 3. Finance market analysts’ assessments of the economic outlook p.28 4. The short-term relation between changes in policy interest rate and exchange rate p. 31 5. Risks in securities settlement systems p.66 6. CPSS-IOSCO Technical Committee Recommendations for Securities Settlement Systems p. 68 | 2002 | ||
1. Survey of financial market analysts’ assesement of the economic outlook p. 6 2. Bourses in troubles p. 14 3. Base money and the impact of central banks p. 23 4. Changes in Central Bank rules p. 24 | 2002 | ||
1. Revised Consumer Price Index base in March 2002 p. 6 2. Oil prices p. 10 3. Survey of analysts’ assessment of the economic outlook p. 12 4. Global economic recovery has begun but its sustainability is uncertainGlobal economic recovery has begun but its sustainability is uncertain p. 19 5. Central bank policy decisions using Taylor rules p. 25 6. Has the public sector kindled household debt accumulation? p. 47 | The monetary policy response to the Noral Project p. 28 Requirements for the solvency ratios of credit institutions and scope for taking subordinated loans p. 58 Responses to the IMF Mission’s Financial System Stability Assessment p. 61 | 2002 | |
1. Forecasting errors in Central Bank and other inflation forecasts p. 4 2. Agreements between the Icelandic Federation of Labour (ASÍ) and Confederation of Employers (SA) on a review of wage agreements in 2002, and declarations by the Government of Iceland and Central Bank of Iceland in December 2001 p. 12 3. Financing of the current account deficit and other currency outflows since 1998 p. 15 4. Inflation and interest rates in selected countries p. 24 | 2002 | ||
1. Equilibrium unemployment and labour market pressures p. 6 2. The global economic outlook p. 11 3. What determines the exchange rate of currencies? p. 24 4. International comparison of short-term real interest rates p. 27 5. The relation between interest rates and inflation p. 28 6. The equities market p. 31 7. Market upheavals following terrorist attacks p. 34 8. Are credit institutions overdependent on the Central Bank? p. 37 9. The effects of Central Bank monetary policy on the financial system p. 66 10. The effects of Central Bank monetary policy on the economy p. 74 | 2001 | ||
1. The National Economic Institute has lowered its forecast for growth this year p. 12 2. The Central Bank’s system for assessing the economic situation and outlook p. 18 3. Are there grounds for Iceland to maintain a similar monetary stance to the USA? p. 20 | 2001 | ||
1. Oil and petrol market scenario p. 5 2. Examples of banking crises (financial crises) in the last decade p. 21 3. Increase in sectoral lending by the credit system, based on constant prices and exchange rates p. 25 4. New type of subordinated loans (Capital supplement) p. 34 5. proposals for a review of capital adequacy rules p. 35 | 2001 | ||
1. Forecasting errors in Central Bank and other inflation forecasts p. 5 2. The relation between the exchange rate, wages and prices p. 8 3. The impact of monetary policy on the current account p. 15 4. Reading expectations from interest rates p. 19 5. Amendments to legislation on securities trading p. 22 | Key figures for pension funds 1961-1999 p. 57 | 2001 | |
1. Revision of the national accounts p. 11 2. Measuring the output potential of the economy p. 14 3. Productivity developments in Iceland p. 16 4. Iceland’s current account deficit in an international context p. 19 5. Revised rules for the foreign exchange market p. 26 6. The development of organised financial markets p. 41 7. Exchange rate policy p. 42 8. Central Bank interest rate spectrum p. 44 9. Overview of Central Bank instruments p. 46 10. Inflation, economic growth and central bank independence p. 52 11. Criteria for central bank independence p. 53 12. Transparency and accountability of Bank of England p. 58 | 2000 | ||
1. Evolution of the Icelandic equity market 1984-2000 p. 22 2. Equity markets in a global competitive environment and NOREX p. 23 | Appendices p. 60 | 2000 | |
1. The relationship between inflation and output-gap p. 8 2. Revised compilation of current accounts p. 9 | 2000 | ||
1. The Lamfalussy conditions p. 48 2. Definition of terms p. 54 3. Determinants of foreign direct investment p. 56 | 2000 | ||
1 Housing market insight from a hedonic model 30 | |||
2 Loans owned by alternative investment funds 35 | |||
3 Pension funds and financial stability 52 | |||
4 The systemically important banks in comparison with their Nordic peers 54 | |||
5 Winding up ÍL fund 58 | |||
6 The impact of greenhouse gas emissions on financial stability 59 |
Boxes and appendices