The Financial Express

Iceland's central bank keeps key interest rate unchanged

| Updated: December 15, 2017 20:48:43

Central Bank of Iceland (File Photo) Central Bank of Iceland (File Photo)

The Central Bank of Iceland (CBI) has kept its key deposit rate unchanged at 4.25 per cent after a meeting on Wednesday.

The central bank officials said that they expected higher economic growth this year, compared to its expectation a month ago, reports Reuters.

 “The outlook for 2017 as a whole is for stronger GDP growth than was forecast in the November Monetary Bulletin,” the central bank said in a statement, without specifying the new growth expectation.

In November, the CBI forecast growth of 3.7 per cent this year, much below the 7.4 per cent growth reached last year.

Gross domestic product growth of the country in the first nine months of the year was 4.3, according to the statistics office.

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