Statement of the Monetary Policy Committee 19 March 2025
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 7.75%. All Committee mem0bers voted in favour of the decision.
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Webcast: Statement of the Monetary Policy Committee and publication of Monetary Bulletin 19 March 2025
A statement of the Monetary Policy Committee was published on the Central Bank of Iceland website Wednesday 19 March 2025 at 08:30 hrs. At 9:30 hrs., a press conference on the statement was held.
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Current account deficit 95.2 b.kr. in Q4/2024 – net IIP positive by 42.5% of GDP
The current account deficit measured 95.2 b.kr. in Q4/2024. This represents a deterioration of 147.4 b.kr. relative to the previous quarter and 77.7 b.kr. relative to Q4/2023. There was a deficit on goods trade in the amount of 104.1 b.kr and a 34.5 b.kr. surplus on services trade. The deficit on primary income was 10.5 b.kr., and the deficit on secondary income was 15.1 b.kr.
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