Nordic & Swiss Economics

Nordic & Swiss Economics Update

13 December, 2017

Icelandic policy rate on hold next year

Following today’s decision to keep interest rates unchanged, the Central Bank of Iceland (CBI) noted that looser fiscal policy is a short-term risk to the monetary policy outlook. While we expect the new Government to announce a small fiscal expansion in its forthcoming budget, we do not think that this will require immediate increases in interest rates. Rather, we forecast rates to be unchanged until 2019.

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