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11.09.2017 10:21

Icelandic Economic Weekly: Monday 11 September 2017

Last week's highlights

The current account surplus was ISK 16.3bn in Q2.

GDP increased by 3.4% YoY in Q2.

Statistics Iceland revised GDP growth in 2016 upwards from 7.2% to 7.4%

One member of the Monetary Policy Committee would have preferred to lower rates by 0.25 percentage points at the last meeting.

The week ahead

The release calendar is very light with few interesting economic indicators.

On Friday, the Department of Labour will release the unemployment rate.

Markets 11 September 2017

Macro Overview 11 September 2017

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Overview of the Icelandic FX market

At the end of day on 24 October, the euro stood at ISK 124.2. The euro has hovered around ISK 125 since the first half of August. Since the beginning of this year, the euro has risen by 4.3%. There have been but negligible changes to the USD exchange rate since the latter part of June and the USD has cost around ISK 105 since then. Since the beginning of this year, the USD has fallen by 6.7%.

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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