Central Bank of Iceland
Iceland launches plan to lift capital controls
Failed banks' estates must agree settlement with creditors within six months or face heavy one-off tax; either way this should pave way for controls to be lifted next year
Central Bank of Iceland prepares for ‘substantial’ interest rate increases
Minutes show MPC grappling with uncertainty around pay increases but board members agree interest rates will soon have to move upwards sharply; one member dissented from rate hold
Iceland prepares to hike rates despite low inflation
Expectations of ‘very large’ pay increases combined with flat productivity and strong demand growth prompt MPC to signal a coming hike, despite inflation at 0% when house prices are stripped out
‘Severe’ risks around lifting capital controls, Icelandic report warns
Financial stability report highlights need for careful preparation before capital controls can be lifted; governor says most expected capital movements have been ‘well mapped out’
Icelandic MP posits radical monetary reform
Report proposes scrapping fractional reserve banking and handing Central Bank of Iceland authority over money creation; central bank says it is not considering the plans further
Central Bank of Iceland hails successful year
Annual report for 2014 shows inflation fell, central bank introduced prudential measures in preparation for capital account liberalisation, and profits returned to positive figures
Iceland expects ‘significant’ progress in lifting capital controls this year
Healthy economy and sturdy banking system pave way for lifting of capital controls, but risks are 'tilted to the downside', IMF report says; central bank at a ‘difficult juncture’
2014: The year in review
The past year has seen central banks across the globe grapple with reform, at an institutional and global level – we look back at the biggest stories of 2014
Iceland introduces foreign currency funding rule based on Basel Committee's NSFR
Measure is intended to limit extent to which banks fund long-term lending in foreign currencies with unstable short-term funding; Three-year NSFR could be introduced in 2015
Charitable governor vows to deliver next interest rate decision in Christmas sweater
Mar Guðmundsson's promise part of national anti-bullying campaign; calls on central bankers to be ‘more open' to charitable causes and have ‘some fun with it'
Icelandic research proposes new measure of core inflation
‘Dynamic factor measure' outperforms current core measures in terms of matching the mean of CPI inflation while having lower volatility, argues author
Poland bucks expectations and EU trend with rate hold
National Bank of Poland holds key rate at 2.5% despite widespread expectations of a cut, stoked in part by the National Bank of Romania's easing policy yesterday
Iceland renovates approach to financial stability
Már Guðmundsson comments on introduction of financial stability council and systemic risk committee in Central Bank of Iceland publications
Guðmundsson secures second term as Iceland governor
Incumbent Már Guðmundsson fends off competition from Friðrik Már Baldursson and Ragnar Árnason to take the top job at Central Bank of Iceland, despite reported run-in with Icelandic prime minister
Iceland governor included in three-man shortlist to replace him
Sitting governor Mar Guðmundsson is one of three deemed ‘very well qualified' to take the next term as head of the central bank
IMF calls on Iceland to defend central bank credibility
As the evaluation committee prepares to interview candidates for governor, IMF visit reminds Iceland of the need for a credible and independent central bank
Icelandic police chief heads ‘bizarre' committee to choose next governor
Icelandic economists criticise choice of Reykjavik police chief to chair three-person panel charged with recommending the next central bank governor
Iceland changes monetary policy framework as capital controls set to be lifted
The central bank's overhaul of key instruments in anticipation of balance sheet reduction and lifting of capital controls signals start of policy normalisation six years after crisis
Iceland prepares to phase out smallest banknote
Central Bank of Iceland hints at replacing the 500 krónur banknote with a coin, and scrapping the three lowest value coins altogether; introduced new 10,000 krónur note last year
Iceland MPC fears debt relief package will boost inflation
Central Bank of Iceland frets over economic impact of government's plan to relieve 100,000 households of $1.32 billion in debt
Iceland governor must re-apply for post as government mulls central bank shake-up
Ministry of finance says decision to review central bank's governing structure means it will advertise for applications for governorship; media speculate that political motives play a part
Central Bank of Iceland to offload Kaupthing bonds acquired in the crisis
The bank will sell $860 million worth of covered bonds issued by Kaupthing Bank before the financial crisis over the next five years
Iceland governor denies 'playing politics' over plans for household debt relief
Mar Guðmundsson says government plans to reduce household debt burden will not involve 'printing money'; rejects reports that he was accused of ‘playing politics’ by prime minister
Iceland central bank closes last vault outside of Reykjavik
Vault closure is the culmination of a 10-year review of the bank's role in distributing banknotes around the sparsely populated island nation