Iceland’s Central Bankers Unanimous on Keeping Rates Unchanged

Members of the Icelandic central bank’s policy board were unanimous on keeping Sedlabanki’s benchmark interest rate unchanged at its June 11 meeting.

“Committee members agreed that the accommodative monetary stance had supported the economic recovery in the recent term,” according to the minutes published today. “It was still the case that as spare capacity disappeared from the economy, it would be necessary that slack in monetary policy should disappear as well.”

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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