The Central Bank of Iceland kept its seven-day term deposit rate at 4.5% at its March 20th 2019 meeting, as widely expected. Although the inflation eased to 3% in February and the krona appreciated since the last monetary meeting, inflation is expected to rise somewhat over most of the year, depending on the results of the ongoing wage negotiations. Policymakers noted that GDP growth slowed between the 1st half and 2nd half of 2018, and was 4.6% in 2018, above bank projections of 4.3%. Still, recent indicators of economic activity and the labour market suggest that demand pressures in the economy continue to subside. Policymakers added that long-term inflation expectations are still above target and reiterated they could call for a tighter monetary stance in coming months. Interest Rate in Iceland averaged 7.56 percent from 1998 until 2019, reaching an all time high of 18 percent in October of 2008 and a record low of 4.25 percent in February of 2011.

Interest Rate in Iceland is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Iceland to stand at 4.25 in 12 months time. In the long-term, the Iceland Interest Rate is projected to trend around 4.25 percent in 2020, according to our econometric models.

Iceland Interest Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-07 08:55 AM CBI Interest Rate Decision 4.5% 4.25% 4.25% 4.25%
2018-12-12 08:55 AM CBI Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2019-02-06 08:55 AM CBI Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2019-03-20 08:55 AM CBI Interest Rate Decision 4.5% 4.5% 4.5% 4.5%
2019-05-22 08:55 AM CBI Interest Rate Decision 4.5% 4.5%
2019-05-22 09:00 AM Monetary Bulletin
2019-06-26 08:55 AM CBI Interest Rate Decision 4.5%


Iceland Money Last Previous Highest Lowest Unit
Interest Rate 4.50 4.50 18.00 4.25 percent [+]
Interbank Rate 4.65 4.65 18.47 3.88 percent [+]
Money Supply M0 132.99 132.27 173.88 11.05 ISK Billion [+]
Money Supply M1 506.20 506.20 522.55 8.88 ISK Billion [+]
Money Supply M2 1191.12 1160.08 1195.68 0.06 ISK Billion [+]
Money Supply M3 1912.89 1872.01 1915.94 0.03 ISK Billion [+]
Foreign Exchange Reserves 755786.32 764985.02 1110368.00 610.00 ISK Million [+]
Banks Balance Sheet 3872528.00 3822138.00 14896283.00 257400.00 ISK Million [+]
Private Debt to GDP 314.90 336.70 400.80 272.80 percent [+]
Central Bank Balance Sheet 772414.00 781686.00 1638738.00 57829.00 ISK Million [+]


Iceland Interest Rate

In Iceland, the benchmark interest rate is set by the board of Governors of the Central Bank of Iceland (Seðlabanki Íslands). The main interest rate is the seven-day term deposit rate since May 2014. Previously the Bank’s key rate was the rate on its collateralised loans to financial institutions, but in the wake of the crisis the interest rate on the Bank’s deposits had greater influence on money market, as demand for Central Bank loans had been limited. Therefore the Bank’s key interest rate is the rate on seven-day term deposits. This page provides - Iceland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Interest Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.50 18.00 4.25 1998 - 2019 percent Daily




Country Last Previous
Argentina 71.57 May/19
Turkey 24.00 Apr/19
Mexico 8.25 May/19
Russia 7.75 Apr/19
South Africa 6.75 Apr/19
Brazil 6.50 May/19
India 6.00 Apr/19
Indonesia 6.00 May/19
China 4.35 Apr/19
Saudi Arabia 3.00 Apr/19
United States 2.50 May/19
Singapore 2.24 Mar/19
Canada 1.75 Apr/19
South Korea 1.75 Apr/19
Australia 1.50 May/19
United Kingdom 0.75 May/19
Euro Area 0.00 Apr/19
France 0.00 Apr/19
Germany 0.00 Apr/19
Italy 0.00 Apr/19
Netherlands 0.00 Apr/19
Spain 0.00 Apr/19
Japan -0.10 Apr/19
Switzerland -0.75 Apr/19


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