Mediafax (Mediafax)
Macroeconomics  |  December 08, 2010 11:15:05

Iceland's central bank cut key interest rate by one percentage point


Mediafax

Reykjavik (MEDIAFAX) - Iceland's central bank on Wednesday cut key interest rate by 100 basis points to 4.5 percent. Informed the agency said.

Intervention by central banks and monetary policy was more pronounced than the market expected. "I assumed reduction in the rate of 50 to 75 basis points due to the fact that on Tuesday we received information that the country's economic activity is rebounding again," said Mats Olausson data, financial strategist of SEB.

Icelandic Statistical Office published a report on Tuesday that gross domestic product grew in the third quarter by 1.2 percent, which means the first QoQ expansion in the last two years. However, the Office expects that the economy will weaken this year by three percent.

Iceland's central bank held interest rates to change the press conference, which begins in 14 hours.

Vojtech Kristen, kristen@mediafax.cz

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Islandská centrální banka snížila hlavní úrokovou sazbu o jeden procentní bod

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