Iceland Interest Rate  1998-2017 | Data | Chart | Calendar | Forecast

The Central Bank of Iceland lowered its key seven-day term deposits rate by 25 bps to 4.5 percent on June 14th, 2017, surprising the market that had seen the rate kept on hold. It is the second consecutive cut this year after lifting capital controls that have been in place since the global financial crisis in 2008. Policymakers said the outlook is for strong GDP in 2017 mainly from rising tourism and private consumption, while there is also the prospect of more fiscal easing. In addition, the krona appreciation and low global inflation continue to offset domestic inflationary pressures. Interest Rate in Iceland averaged 7.96 percent from 1998 until 2017, reaching an all time high of 18 percent in October of 2008 and a record low of 4.25 percent in February of 2011.

Iceland Interest Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-03-15 08:55 AM CBI Interest Rate Decision 5% 5% 5% 5%
2017-05-17 08:55 AM CBI Interest Rate Decision 4.75% 5% 4.75% 5%
2017-06-14 08:55 AM CBI Interest Rate Decision 4.5% 4.75% 4.75% 4.75%
2017-08-23 08:55 AM CBI Interest Rate Decision 4.5% 4.5%
2017-08-23 09:00 AM Monetary Bulletin
2017-10-04 08:55 AM CBI Interest Rate Decision


Iceland Money Last Previous Highest Lowest Unit
Interest Rate 4.50 4.50 18.00 4.25 percent [+]
Interbank Rate 4.65 4.65 18.47 3.88 percent [+]
Money Supply M0 53994.17 53075.79 55097.21 1.60 ISK Million [+]
Money Supply M1 492122.78 477.40 492122.78 8.88 ISK Billion [+]
Money Supply M2 1062569.88 1017.79 1062569.88 0.06 ISK Billion [+]
Money Supply M3 1732151.00 1692.00 1732151.00 0.03 ISK Billion [+]
Banks Balance Sheet 3314382.00 3362599.00 14896283.00 257400.00 ISK Million [+]
Foreign Exchange Reserves 664215.05 642514.49 1110305.98 610.00 ISK Million [+]
Deposit Interest Rate 4.85 4.81 39.46 3.03 percent [+]
Central Bank Balance Sheet 774252.00 760502.00 1638738.00 57829.00 ISK Million [+]
Private Debt to GDP 323.43 380.37 380.37 272.81 percent [+]


Iceland Interest Rate Notes

In Iceland, the benchmark interest rate is set by the board of Governors of the Central Bank of Iceland (Seðlabanki Íslands). The main interest rate is the seven-day term deposit rate since May 2014. Previously the Bank’s key rate was the rate on its collateralised loans to financial institutions, but in the wake of the crisis the interest rate on the Bank’s deposits had greater influence on money market, as demand for Central Bank loans had been limited. Therefore the Bank’s key interest rate is the rate on seven-day term deposits. This page provides - Iceland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Interest Rate - actual data, historical chart and calendar of releases - was last updated on August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.50 18.00 4.25 1998 - 2017 percent Daily



interest rate by Country

Last
Brazil 9.25 Jul/17
Russia 9.00 Jul/17
Turkey 8.00 Jul/17
Mexico 7.00 Aug/17
India 6.00 Aug/17
Indonesia 4.75 Jul/17
China 4.35 Jun/17
Australia 1.50 Aug/17
South Korea 1.25 Jul/17
United States 1.25 Jul/17
Canada 0.75 Jul/17
United Kingdom 0.25 Aug/17
Euro Area 0.00 Aug/17
France 0.00 Aug/17
Germany 0.00 Aug/17
Italy 0.00 Aug/17
Netherlands 0.00 Aug/17
Spain 0.00 Aug/17
Japan -0.10 Jul/17
Switzerland -0.75 Jul/17