Government accounts for 2017 were published. Arion Bank published the FME’s assessment of the bank’s capital requirement. Preparations are under way for the merger of the Central Bank of Iceland and the Financial Supervisory Authority.
The MPC held policy rates unchanged, as we expected. Landsbankinn signed a loan facility with the Nordic Investment Bank. Arion Bank issued a profit warning. The CBI published its yearly Economy of Iceland report.
The CPI increased by 0.24% MOM, bringing the headline inflation rate to 2.7%. The increase was slightly lower than we expected. The IMF released a staff concluding statement after an Article IV Consultation visit. The CBI released its quarterly Economic Indicators publications.
Last week, when the króna had depreciated by almost 7% since the beginning of the month and more than 2% within the day against the euro, the Central Bank intervened and sold 9 million euros. This represents the Central Bank's first intervention on the FX market since November 2017, when the Bank bought 3 million euros.
The CBI released the minutes of the last meeting of the MPC. The minister of finance and economic affairs submitted the National Budget proposal for 2019 to Parliament. The GDM released its monthly Market Information report.
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The contents published here were produced by employees of Landsbankinn Economic Research and are based on information available to the public when the analysis was compiled. Assessment of this information reflects the views of Economic Research’s employees on the analysis date, which may change without notice. | Full disclaimer
