The Monetary Policy Committee held policy rates unchanged, in line with our expectations. Preliminary estimates for 2017 show that the GDP per capita in Iceland was 30% above the EU28 average.

Statistics Iceland released national accounts for Q3. The CBI released the current account for Q3. The government has decided to present a bill to parliament proposing the liberalisation of capital controls on off-shore króna holders. Icelandair released traffic data for November. Fitch affirmed Iceland at A with a stable outlook.

The consumer price index increased by 0.24% MoM, bringing the headline number to 3.3%. Statistics Iceland released the balance of trade in goods for the first ten months, services for the first nine months and goods and services as published in National Accounts for the first nine months of 2018.

The króna has continued to weaken throughout November. At the end of day 27 November the euro stood at 141.5 and had risen by 2.8% MtD. The US dollar stood at 125.3, and had risen by 3.0 MtD. The Central Bank of Iceland has once intervened in the currency market in November, selling 6 million euro on the 14th.

The Central Bank of Iceland released the minutes of the last meeting of the Monetary Policy Committee. The Treasury bought back own bonds for ISK 24bn. Based on the LFS, unemployment was 2.3% in October. Landsvirkjun released results for the first nine months of 2018.