Interest Rate in Iceland
Iceland - Interest RateEconomic indicators from the second quarter make for grim reading. Tourist arrivals plummeted in annual terms, depressed by WOW Air’s bankruptcy in March which limited airline capacity. This appears to have had a knock-on effect on the labor market, with the unemployment rate spiking to an over four-year high in May on a loss of jobs related to the tourism sector. Moreover, construction investment in the tourism sector likely suffered. Making matters worse, the total fish catch in the second quarter fell by roughly 20% year-on-year amid a drop in stocks; fish and fish-related products are a key export. This comes after growth slowed markedly in Q1 owing to a sharp contraction in fixed investment—also likely affected by trouble at WOW Air—and slower private consumption growth.
Iceland - Interest Rate Data
|Policy Interest Rate (%)||5.38||4.50||5.75||5.00||4.25|
5 years of economic forecasts for more than 30 economic indicators.
Iceland Interest Rate Chart
Source: Central Bank of Iceland.
|Bond Yield||3.88||-0.99 %||Jul 31|
|Exchange Rate||122.0||-0.52 %||Jul 31|
|Stock Market||1,476||-0.32 %||Jul 31|
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