Iceland Balance of Trade
Compared to the previous year, Iceland's trade deficit increased by 65 percent to ISK 178 billion, a significant increase. Excluding the impact of a steep decline in marine product sales, exports fell 4%, the increase of 8% in imports was primarily driven by increased purchases of industrial supplies, ships, and transportation equipment. Most trade deficits were reported with China, Norway, Germany, and Denmark, the most trade surpluses were recorded with the Netherlands, Spain, and France.
A higher than expected figure should be seen as positive (bullish) for the ISK while a lower than expected figure should be seen as negative (bearish) for the ISK.
News (ISK)
Iceland Central Bank Raises Key Interest Rate To 8.75%
Iceland's central bank raised its key interest rate sharply at its May meeting on Wednesday to contain the risk of a wage-price spiral in the face of strong demand pressures, and the policy board hinted that further rate hikes would bring inflation back to the target range and thereby ensure a better balanced economy.
RTTNews | 348 days ago
Iceland Central Bank Lifts Rate By 100 Bps
Iceland's central bank raised its key interest rate sharply on Wednesday to contain the risk of wage-price spiral in the face of strong demand pressures and the upcoming wage negotiations. The Monetary Policy Committee of the Central Bank of Iceland decided to raise the benchmark interest rate, which is the rate on seven-day term deposits, by 100 basis points to 7.50 percent.
RTTNews | 411 days ago
Iceland Central Bank Raises Policy Rates To Tame Inflation
Iceland's central bank lifted its key interest rate for the fourth time this year and signaled further hikes to tame inflation. The Monetary Policy Committee of the Central Bank of Iceland decided to raise the key seven-day term deposit rate by 75 basis points to 5.50 percent. A similar higher rate was last seen in May 2017.
RTTNews | 621 days ago
