Iceland's central bank decided to keep key rates on hold as expected by economists on Wednesday.
The Monetary Policy Committee maintained the benchmark seven-day collateralized lending rate at 5.75 percent and the overnight lending rate at 6.75 percent.
The central bank said the accommodative monetary stance has supported the economic recovery. The outlook for 2012 suggest stronger output growth, it said.
According to MPC, the inflation outlook for the next two years has improved since the last meeting. But it is not expected to reach the target until the end of the period.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.