The CPI based on prices in June increased by 0.44% MoM. Statistics Iceland expects the GDP to decrease by 8.4% in 2020. Unemployment in May was 9.9%, according to Statistics Iceland's labour force survey. The CBI released its quarterly Economic Indicators.

Registered unemployment was 13.0% in May, 5.6 pp of that figure due to part-time claims. The Government Debt Management Agency published its monthly Market Information report. The real exchange rate was 9.7% lower in May then same month 2019. Icelandair Group published traffic data for May.

The CBI released the minutes of the MPC’s meeting on the policy rate decision 20 May. On Tuesday, the Government Debt Management Agency releases its monthly Market Information report.

The Icelandic economy contracted by 1.2% year-on-year in Q1. The CPI based on prices in May increased by 0.54% MoM, bringing the headline number to 2.6%. The trade balance and the current account balance were both slightly positive in Q1. The Treasury issued bonds in euros.

The MPC lowered policy rates by 0.75 percentage points. Concurrent with the policy rate decision, the CBI released its quarterly Monetary Bulletin. Fitch revised Iceland's Outlook to Negative.