Tags: Iceland | Cuts | Key | Interest | Rate

Iceland Cuts Key Interest Rate to 7 Percent From 8 Percent

Wednesday, 18 Aug 2010 07:23 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Iceland's central bank has cut its key interest rate by a full percentage point to 7 percent after a strengthening in the krona and easing inflation.

Sedlabanki's announcement on Wednesday continues the bank's gradual lowering of the seven-day collateral lending rate as it recovers from the economic and financial crisis.

The rate peaked at 18 percent in October 2008, when Iceland's banking system collapsed under the strain of a global credit squeeze.

The tiny Nordic country is benefiting from a loan from the International Monetary Fund worth $2.1 billion.

Sedlabanki has also cut its deposit rate to 5.5 percent from 6.5 percent.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Obama Approves Plan for Illegal Children to Get Refugee Status

Wednesday, 01 Oct 2014 10:56 AM

President Barack Obama has approved a plan to give thousands of children from Central America the opportunity to get ref . . .

Sen. Johnson: Ground Troops a Must to Defeat ISIS

Wednesday, 01 Oct 2014 10:53 AM

At most, fighting the Islamic State (ISIS) with only airstrikes may halt the advance of the violent terror group, but wi . . .

Fundraising Figures, Ad Spending Lend Insight Into Senate Races

Wednesday, 01 Oct 2014 09:48 AM

While polls can provide a snapshot of where a race stands in the public's eye, quarterly fundraising figures also give i . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved