The Act on the Central Bank of Iceland states that decisions on the application of the Bank’s monetary policy instruments shall be taken by the Monetary Policy Committee (MPC). It also states that the minutes of MPC meetings shall be made public and an account given of the Committee’s decisions and the premises on which they are based. On the basis of this statutory authority, the MPC publishes the minutes of each meeting two weeks after the announcement of each decision.

In order to make domestic retail payments more flexible and reduce the probability that interruptions in internet connections will disrupt business activity, consumers will soon be able to make payment by credit or debit card in Iceland even if internet connections go down.

The Icelandic financial system is sound and is well prepared to withstand unforeseen shocks. The systemically important banks’ financial position is strong, and their access to market-based funding is good. Protracted global economic uncertainty, a worsening inflation outlook, and high interest rates could test the financial system’s resilience in the coming term. Private sector debt ratios are generally low, and arrears are limited. The Central Bank of Iceland’s stress test indicates that the three large banks could withstand substantial shocks without excessively curtailing the supply of credit to customers.

A state­ment of the Fin­an­cial Sta­bil­ity Com­mit­tee will be pub­lished at 8:30 on Wed­nes­day 3 June 2026.

Governor Ásgeir Jónsson delivered a speech today, 2 June, at a conference on Iceland’s currency options. The conference was organised by the Ministry of Finance and Economic Affairs and was held in conjunction with the publication of a report on Iceland’s currency options prepared by a panel of international experts.

In co-operation with the Center for International Macroeconomics at Northwestern University, the Central Bank of Iceland will convene the Reykjavík Economic Conference on 28-29 May 2026.

Monetary Bulletin provides a quarterly overview of monetary developments and prospects, including an inflation forecast, which plays an important role in the formulation of monetary policy.

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise 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 members voted in favour of the decision.