The Central Bank of Iceland lowered its seven-day term deposit rate by 25bps to an all-time low of 3.75% on June 26th 2019, following a 50bps cut in the previous month, saying inflation expectations have fallen. In June, inflation rate dropped to 3.3 percent from a five-month high of 3.6 percent in May, and in line with the Central Bank’s forecast. Policymakers kept the economic outlook from the previous MPC meeting, at which GDP was projected to shrink by 0.4 percent in 2019 and inflation to return to the target of 2 percent by mid-2020 but the contraction in tourism is expected to be deeper than previously expected. Interest Rate in Iceland averaged 7.52 percent from 1998 until 2019, reaching an all time high of 18 percent in October of 2008 and a record low of 3.75 percent in June of 2019.

Interest Rate in Iceland is expected to be 3.75 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 3.50 in 12 months time. In the long-term, the Iceland Interest Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.

Iceland Interest Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2019-02-06 08:55 AM CBI Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2019-03-20 08:55 AM CBI Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2019-05-22 08:55 AM CBI Interest Rate Decision 4% 4.5% 4.5%
2019-06-26 08:55 AM CBI Interest Rate Decision 3.75% 4% 4%
2019-08-28 08:55 AM CBI Interest Rate Decision 3.75% 3.75%
2019-08-28 09:00 AM Monetary Bulletin
2019-10-02 08:55 AM CBI Interest Rate Decision 3.75%


Iceland Money Last Previous Highest Lowest Unit
Interest Rate 3.75 3.75 18.00 3.75 percent [+]
Interbank Rate 4.07 4.07 18.47 3.88 percent [+]
Money Supply M0 121.35 111.42 173.88 11.05 ISK Billion [+]
Money Supply M1 532.69 533.18 533.18 8.88 ISK Billion [+]
Money Supply M2 1227.58 1224.26 1227.58 0.06 ISK Billion [+]
Money Supply M3 1945.37 1933.03 1945.37 0.03 ISK Billion [+]
Foreign Exchange Reserves 806269.32 841296.22 1110368.00 610.00 ISK Million [+]
Banks Balance Sheet 3904756.00 3934804.00 14896283.00 257400.00 ISK Million [+]
Private Debt to GDP 314.90 336.70 400.80 272.80 percent [+]
Central Bank Balance Sheet 823172.00 857988.00 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.75 3.75 18.00 3.75 1998 - 2019 percent Daily




Country Last Previous
Argentina 74.98 Aug/19
Turkey 19.75 Jul/19
Mexico 8.00 Aug/19
Russia 7.25 Jul/19
South Africa 6.50 Aug/19
Brazil 6.00 Jul/19
Indonesia 5.50 Aug/19
India 5.40 Aug/19
China 4.25 Aug/19
Saudi Arabia 2.75 Aug/19
United States 2.25 Jul/19
Singapore 1.94 Jul/19
Canada 1.75 Aug/19
South Korea 1.50 Jul/19
Australia 1.00 Aug/19
United Kingdom 0.75 Aug/19
Euro Area 0.00 Jul/19
France 0.00 Jul/19
Germany 0.00 Jul/19
Italy 0.00 Jul/19
Netherlands 0.00 Jul/19
Spain 0.00 Jul/19
Japan -0.10 Aug/19
Switzerland -0.75 Aug/19


Related

Latest