The Central Bank of Iceland left its key rate on the seven-day term deposits unchanged at a record low of 3 percent on December 11th 2019. It follows a 25bps cut in the previous meeting. The central bank said the current policy stance remains appropriate as growth figures for the first nine months of the year are in line with the Bank’s projections and the inflation outlook is broadly unchanged. Policymakers added that near-term monetary policy decisions will depend on the interaction between developments in economic activity, on the one hand, and inflation and inflation expectations, on the other.
Interest Rate in Iceland averaged 7.39 percent from 1998 until 2019, reaching an all time high of 18 percent in October of 2008 and a record low of 3 percent in November of 2019. This page provides - Iceland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Interest Rate in Iceland is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Iceland to stand at 3.00 in 12 months time. In the long-term, the Iceland Interest Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.