25. May 2020 - Weekly bulletin
The MPC lowered policy rates by 0.75 percentage points.
Concurrent with the policy rate decision, the CBI released its quarterly Monetary Bulletin.
Fitch revised Iceland's Outlook to Negative.
On Wednesday, Statistics Iceland will release trade in goods and services numbers for Q1.
On Thursday, Statistics Iceland will release CPI numbers for May. We expect a 0.4% increase between months and for the headline inflation to increase from 2.2% to 2.4%.
On Friday, Statistics Iceland will publish national accounts for Q1. The CBI will publish balance of payments for Q1 as well as external debt and the international investment position at end of Q1.
Markets 25 May 2020
Macro Overview 25 May 2020
News and Notifications - 03 July 2020 10:54 AM
The ISK depreciated by 2.8% against the EUR and 1.7% against the USD in June. Turnover in the interbank foreign exchange market was ISK 42,2bn (EUR 276m) in June.
Forsíða - 30 June 2020 01:16 PM
It is quite common to invest part of savings in accounts in foreign currencies. When the Icelandic króna (ISK) depreciates, currency gains accrue to these accounts and the Bank is obligated to withhold a 22% financial income tax on such gains.
Weekly bulletin - 29 June 2020 09:56 AM
The CPI based on prices in June increased by 0.44% MoM. Statistics Iceland expects the GDP to decrease by 8.4% in 2020. Unemployment in May was 9.9%, according to Statistics Iceland's labour force survey. The CBI released its quarterly Economic Indicators.
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