20 January 2020

Monetary Policy Committee report to Parliament

Central Bank of Iceland and the mountain Esja

The Central Bank Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H2/2019 has been posted to the Bank’s website. The report is supplemented by a wide range of supporting material spanning 178 pages. Furthermore, for the first time, the MPC report is accompanied by reports from the Committee’s external members. As is stated in the Committee’s report on responses to some of the proposals from the task force on the review of the monetary policy framework, published in December 2018, each external Committee member will also send a separate report annually to Parliament.

The Act on the Central Bank of Iceland stipulates that the MPC shall report to Parliament on its activities twice a year and that the contents of the report shall be discussed in the Parliamentary committee of the Speaker’s choosing. Hitherto, the report has been discussed in the Parliamentary Economic Affairs and Trade Committee. Since the last report was sent to Parliament, the Committee has held four regular meetings, most recently on 11 December 2019. The present report discusses the work of the Committee between July and December 2019.

Since the beginning of 2020, when the new Act on the Central Bank entered into force, the MPC has been structured in a new way. The Committee is still chaired by Governor Ásgeir Jónsson.

The report can be found here: Monetary Policy Committee’s H2/2019 report to Parliament.

Reports of members:

Report of Katrin Olafsdottir.

Report of Gylfi Zoëga.

Previous MPC reports can be found here.