Iceland lowers policy rates again

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.75 percentage points.

The deposit rate (current account rate) will be 4.75 percent, and the maximum bid rate for 28-day certificates of deposit (CDs) will be 6.0 percent. The seven-day collateralised lending rate will be 6.25 percent and the overnight lending rate 7.75 percent.

(Text from the Central Bank of Iceland)