Statement of the Monetary Policy Committee 20 November 2024
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.5 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 8.5%.
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Monetary Bulletin published
The Monetary Bulletin, 2024/4, has been published. Monetary Bulletin is published four times a year. In early May and early November, it contains an inflation and macroeconomic forecast, together with an in-depth analysis of economic and monetary developments and prospects. The February and August issues include updated inflation and macroeconomic forecasts and an abbreviated report on economic and monetary developments and outlook.
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Statement of the Monetary Policy Committee and publication of Monetary Bulletin tomorrow, 20 November 2024
A statement of the Monetary Policy Committee will be published on the Central Bank of Iceland website tomorrow, Wednesday 20 November 2024, at 08:30 hrs. The Bank’s Monetary Bulletin will be published at 08:35 hrs. An hour later, at 9:30 hrs., a press conference on the statement and the contents of the Monetary Bulletin will be held.
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Central Bank updates resolution plans for systemically important banks
The Central Bank Resolution Authority has updated its resolution plans for Iceland’s three systemically important banks – Arion Bank, Íslandsbanki, and Landsbankinn. The plans cover the execution of bank resolution in the event that their financial position deteriorates to the point that they are deemed failing or likely to fail.
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Survey of market expectations
The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 4-6 November 2024. A total of 39 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, licensed asset management firms, and insurance firms were invited to participate. Responses were received from 31 market participants, giving a response ratio of 79%.
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