Iceland resumes easing cycle on weaker growth forecasts

The monetary policy committee of the Central Bank of Iceland cut interest rates again today (February 5) as growth forecasts were revised down.

Interest rates were lowered by 25 basis points. As a result, the key interest rate now stands at 2.75%, a new record low. The overnight loan rate is now 4.5%, the seven-day collateralised loans rate is 3.5%, and the current account rate 2.5%. In 2019, the central bank cut rates by 150bp in a bid to boost economic growth

“Because inflation expectations

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