PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:
The Board of Governors of the Central Bank of Iceland has decided to hold the Bank’s policy interest rate unchanged at 18%.
The Bank’s analysis of the economic situation and outlook is published in Monetary Bulletin.
As is well known, economic policy will be determined in collaboration with the International Monetary Fund in the immediate future. It is expected that a decision will be made very soon and that an action plan will then be published. The Board of Governors of the Central Bank will give account of its monetary policy thereafter.
I’m having the same doubts SPAIN …
Last days, 12% -> 18% ; evidently, changes were not expected.
ECB: 3.75% -> 3.25%
Bank of England: 4.50% -> 3.00% ( very shady panorama, hard cut ) .
Icelandic krona change rate lower to Euro every day: 150 -> 155 -> 160 -> 165 -> 166 / Euro. This is going to be the ruin of the Icelanders. And, free market, 305 / Euro: absolut ruin.
What are they doing in the Central Bank; are they doing something?