CURRENCY NEWS
CURRENCY NEWS
Iceland Widens Krona Bands, Raises Rates
Iceland's central bank raised interest rates on February 14 and widened its exchange rate band for Icelandic kronur against its currency basket from +/- 6 per cent to +/- 9 per cent.
The interest rate rise by 30bp took the key repo rate to 10.1 per cent from 9.8 per cent. It was the second rise in five weeks. Interest rates have been hiked 2.9 percentage points in the last two years in a move to dampen inflation.
Figures from Statice, Iceland's national
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