Iceland holds rates for first time in over two years
Inflation is rising, but MPC holds until new forecast comes in
The Central Bank of Iceland halted more than two years of monetary policy tightening on October 4, holding rates at 9.25%. Since May 2021, the central bank has raised rates at 14 consecutive meetings, by a total of 8.5 percentage points.
The Nordic country has faced persistent high inflation. The monetary policy committee acknowledged inflation rose in September, to 8% year on year. This is the second straight month inflation has risen. The central bank’s inflation target is 2.5%, averaged over
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