Aggregated News From Investment Management Regulators

CB IS

Monetary Policy Committee statement and webcast today, 22 June 2022

A statement of the Central Bank Monetary Policy Committee (MPC) was published on the Bank‘s website today at 8:30 hrs. At 9:30 hrs, a webcast presentation was aired where Ásgeir Jónsson, Governor and Monetary Policy Committee chair, and Rannveig Sigurðardóttir, Deputy Governor for Monetary Policy, explained the statement and the rationale behind the Committee´s decision. The webcast will be available here below. This news item was originally published by the Central Bank of Iceland (CB IS). For more information, please see the Source Link.

Statement of the Monetary Policy Committee 22 June 2022

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates by 1 percentage point. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 4.75%. According to preliminary national accounts data, GDP growth was somewhat stronger in Q1/2022 than was assumed in the Bank’s May forecast. There are also signs that domestic economic activity will remain strong, and the share of firms reporting staffing shortages is at its highest since 2007. On the other hand, households’ and businesses’ expectations about economic developments have grown more...

Rules on maximum LTV and DSTI ratios

Two new sets of Central Bank rules were published in the Law and Ministerial Gazette today: the Rules on Maximum Loan-to-Value Ratios for Mortgage Loans to Consumers, no. 702/2022, and the Rules on Maximum Debt Service-to-Income Ratios for Mortgage Loans to Consumers, no. 701/2022. The Rules were approved at a meeting of the Central Bank Financial Stability Committee on 14 June 2022 and take effect tomorrow, 16 June 2022. At the same time, the previous Rules on Maximum Loan-to-Value Ratios for Mortgage Loans to Consumers, no. 778/2021, and the previous Rules on Maximum Debt Service-to-Income Ratios for Mortgage...

Webcast with a press conference on the statement of the Financial Stability Committee

A statement of the Financial Stability Committee was published on the Central Bank of Iceland website today at 8:30 hrs.

Webcast with a press conference on the statement of the Financial Stability Committee

A statement of the Financial Stability Committee will published on the Central Bank of Iceland website today at 8:30 hrs. A press conference on the statement will be aired via webcast, starting at 9:30 hrs. Ásgeir Jónsson, Governor and Financial Stability Committee chair; and Gunnar Jakobsson, Deputy Governor for Financial Stability will introduce and discuss the statement. Webcast with a press conference on the statement of the Financial Stability Committee on 15 Juni 2022. This news item was originally published by the Central Bank of Iceland (CB IS). For more information, please see the Source Link.

Statement of the Financial Stability Committee 15 June 2022

The statement of the Financial Stability Committee from its meetings the last two days has been published.

Current account deficit 50.3 b.kr. in Q1/2022 – net IIP positive by 32% of GDP

The current account deficit measured 50.3 b.kr. in Q1/2022. This represents a deterioration of 5.8 b.kr. relative to the previous quarter and 27 b.kr. relative to Q1/2021. The deficit on goods trade totalled 20 b.kr., and the deficit on services trade totalled 5.4 b.kr. The deficit on primary income was 15.8 b.kr., and the deficit on secondary income was 9.1 b.kr. This is included in new information published on the Central Bank of Iceland website, showing the preliminary balance of payments in Q1/2022 and the external position of the economy at the end of the quarter. The erosion in the current...

Current account deficit 50.3 b.kr. in Q1/2022 – net IIP positive by 32% of GDP

The current account deficit measured 50.3 b.kr. in Q1/2022. This represents a deterioration of 5.8 b.kr. relative to the previous quarter and 27 b.kr. relative to Q1/2021.

Minutes of the Monetary Policy Committee meeting of 2-3 May 2022

In accordance with the Monetary Policy Committee Rules of Procedure, the minutes of the Committee's most recent meeting have been published on the Bank's website. The minutes are published two weeks after the announcement of the Committee‘s decision. Accordingly, we have now published the minutes from the meeting of 2-3 May 2022, during which the Committee discussed economic and financial market developments and decisions on the application of the Bank’s monetary policy instruments. The minutes can be found here: Minutes of the Central Bank of Iceland Monetary Policy Committee meeting 2-3 May 202 (108th meeting). Published 18 May 2022. Older MPC minutes...

Monetary Policy Committee statement, Monetary Bulletin and webcast today, 4 May 2022

A statement of the Central Bank Monetary Policy Committee (MPC) and Monetary Bulletin will be published on the Bank's website today; the statement at 8:30 hrs. and the Bulletin at 8:35 hrs. Beginning an hour later, at 09:30 hrs., will be a webcast presentation, where Ásgeir Jónsson, Governor and Chair of the MPC; Rannveig Sigurðardóttir, Deputy Governor for Monetary Policy and Vice-Chair of MPC; and Thorarinn G. Petursson, Chief Economist of the Central Bank, will explain the statement and the rationale behind the Committee's decision, and introduce the contents of Monetary Bulletin. The webcast will be available here: Webcast, Central...

May Monetary Bulletin 2022

The May issue of Monetary Bulletin has been published on the Central Bank of Iceland website. The report, which is issued quarterly, contains the Bank’s analysis of the economic and monetary outlook. Both the analysis and the forecast published in Monetary Bulletin play an important role in monetary policy formulation in Iceland. The report is also issued in Icelandic under the title Peningamál. The May issue of Monetary Bulletin can be found here: Monetary Bulletin 2022/2 See here information on the content of MB: Monetary Bulletin 2022/2 Previous issues of Monetary Bulletin and other Central Bank reports can be found here This news...

Statement of the Monetary Policy Committee 4 May 2022

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank’s interest rates by 1 percentage point. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 3.75%. The economic outlook has deteriorated relative to the Bank’s February forecast, owing to the adverse impact of Russia’s invasion of Ukraine. On the other hand, there are signs of strong domestic economic activity. The slack in the economy appears to have disappeared, and the labour market is tightening. GDP growth is forecast at 4.6% this year, followed by a growth...

Regulator Information

Regulator Name: Central Bank of Iceland
Abbreviation: CB IS
Jurisdiction: Iceland
Email: [email protected]

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