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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.