{"id":24002,"date":"2011-09-22T04:25:00","date_gmt":"2011-09-22T08:25:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/09\/22\/central-bank-of-iceland-keeps-rate-at-4-50\/"},"modified":"2011-09-22T04:25:00","modified_gmt":"2011-09-22T08:25:00","slug":"central-bank-of-iceland-keeps-rate-at-4-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/09\/22\/central-bank-of-iceland-keeps-rate-at-4-50\/","title":{"rendered":"Central Bank of Iceland Keeps Rate at 4.50%"},"content":{"rendered":"<p><span><span><span>Iceland&#8217;s&nbsp;<a href=\"http:\/\/www.sedlabanki.is\/\">Sedlabanki<\/a>&nbsp;held its seven-day collateral lending rate at 4.50%. &nbsp;The Bank also held the deposit rate at 3.50% and&nbsp;<span>overnight lending rate at 5.50%<\/span>. &nbsp;The Bank said: &#8220;inflation prospects suggest that, over the medium term, it is appropriate to continue the gradual withdrawal of monetary accommodation begun in August. &nbsp;The risk that a modest interest rate hike will derail the economic recovery is low. &nbsp;However, somewhat more favourable than expected inflation figures in August, continued strengthening of the kr\u00f3na, and a weaker outlook for the global economy allow the Committee to keep rates on hold at present.&#8221;<\/span><\/span><\/span><br \/><span><\/span><br \/><a name='more'><\/a>At its August meeting the Bank increased its <a href=\"http:\/\/www.centralbanknews.info\/2011\/08\/iceland-central-bank-hikes-interest.html\">lending rate<\/a> by 25 basis points to 4.50%. &nbsp;Iceland reported headline inflation of 5% in July, up from 4.2% in June, 3.4% in May, and 2.3% in March; inflation had previously been forecast to peak just above 3.0% around the middle of this year, meanwhile the Bank&#8217;s inflation target is 2.5%. &nbsp;On inflation Sedlabanki said: &#8220;in the absence of a significant appreciation of the kr\u00f3na, inflation will remain well above the Bank&#8217;s inflation target for some time but return &nbsp;to target over the medium term.&#8221;<\/p>\n<div><span><span><span> <br \/><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-1179736659280364847?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iceland&#8217;s&nbsp;Sedlabanki&nbsp;held its seven-day collateral lending rate at 4.50%. &nbsp;The Bank also held the deposit rate at 3.50% and&nbsp;overnight lending rate at 5.50%. &nbsp;The Bank said: &#8220;inflation prospects suggest that, over the medium term, it is appropriate to continue the gradual withdrawal of monetary accommodation begun in August. &nbsp;The risk that a modest interest rate hike &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/09\/22\/central-bank-of-iceland-keeps-rate-at-4-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Central Bank of Iceland Keeps Rate at 4.50%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24002","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24002"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24002\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}