Iceland’s Central Bankers Unanimous on Keeping Rates Unchanged

Members of the Iceland central bank’s policy board were unanimous on keeping Sedlabanki’s benchmark interest rate unchanged at its May 10 and 14 meetings.

“The board was of the opinion that the current interest rate level provided sufficient restraint and that the monetary stance could be assumed to tighten with declining inflation” according to the minutes published today.

Central bank Governor Mar Gudmundsson “proposed that rates be held unchanged” and all five board members “voted in favor of the proposal,” the minutes show.

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