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

The Central Bank of Iceland left its seven-day term deposits rate steady at 4.25 percent on December 13th, 2017, unchanged from previous meeting as it awaited the 2018 budget from the new government. Policymakers said most recent indicators suggest stronger growth in 2017 than previously expected. GDP growth in the first nine months of the year measured 4.3%, more than previous figures had indicated. Although export growth continues to ease, domestic demand is growing faster than previously estimated, owing in part to more fiscal slack in 2017. House price inflation continues to slow, which would contribute to lower headline inflation, but it will be offset by the waning effects of past appreciation of the exchange rate. Yet, the outlook is for inflation remain in line with the target of 2½% in mid-2018 and stay close to target for the remainder of the forecast horizon. Interest Rate in Iceland averaged 7.86 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 TEForecast
2017-10-04 08:55 AM CBI Interest Rate Decision 4.25% 4.5% 4.25% 4.5%
2017-11-15 08:55 AM CBI Interest Rate Decision 4.25% 4.25% 4.25% 4.25%
2017-12-13 08:55 AM CBI Interest Rate Decision 4.25% 4.25% 4.25%
2018-02-07 08:55 AM CBI Interest Rate Decision 4.25%
2018-02-07 09:00 AM Monetary Bulletin
2018-03-14 08:55 AM CBI Interest Rate Decision

Iceland Money Last Previous Highest Lowest Unit
Interest Rate 4.25 4.25 18.00 4.25 percent [+]
Interbank Rate 4.40 4.40 18.47 3.88 percent [+]
Money Supply M0 129841.17 115586.34 173878.18 4.10 ISK Million [+]
Money Supply M1 491.72 486.64 497.73 8.88 ISK Billion [+]
Money Supply M2 1075.32 1046.77 1106.13 0.06 ISK Billion [+]
Money Supply M3 1757.78 1731.02 1849.94 0.03 ISK Billion [+]
Banks Balance Sheet 3461886.00 3414131.00 14896283.00 257400.00 ISK Million [+]
Foreign Exchange Reserves 674104.72 679859.02 1110305.98 610.00 ISK Million [+]
Private Debt to GDP 323.43 380.37 380.37 272.81 percent [+]
Central Bank Balance Sheet 794796.00 794040.00 1638738.00 57829.00 ISK Million [+]

Iceland Interest Rate

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 December of 2017.

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

interest rate by Country
Country Last
Turkey 8.00 Dec/17
Russia 7.75 Dec/17
Mexico 7.25 Dec/17
Brazil 7.00 Dec/17
India 6.00 Dec/17
China 4.35 Nov/17
Indonesia 4.25 Dec/17
Australia 1.50 Dec/17
South Korea 1.50 Nov/17
United States 1.50 Dec/17
Canada 1.00 Dec/17
United Kingdom 0.50 Dec/17
Euro Area 0.00 Dec/17
France 0.00 Dec/17
Germany 0.00 Dec/17
Italy 0.00 Dec/17
Netherlands 0.00 Dec/17
Spain 0.00 Dec/17
Japan -0.10 Oct/17
Switzerland -0.75 Dec/17