Tags: key | interest | rate | iceland

Iceland Lowers Key Interest Rate by Full Point

Thursday, 10 Dec 2009 01:13 PM

Iceland's central bank on Thursday cut its key lending rate a full point to 10 percent.

The seven-day collateral lending rate had peaked at 18 percent in October last year as Iceland's banking system collapsed under the strain of a global credit crisis.

Sedlabanki, the central bank, also cut its overnight lending rate by 1.5 percentage points to 11.5 percent. The deposit rate on current accounts was trimmed by a half a point to 8.5 percent.

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Iceland's central bank on Thursday cut its key lending rate a full point to 10 percent.The seven-day collateral lending rate had peaked at 18 percent in October last year as Iceland's banking system collapsed under the strain of a global credit crisis.Sedlabanki, the...
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2009-13-10
 

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