Iceland's central bank hiked its key interest rate for the first time in over a year and raised its growth forecast for this year. The Monetary Policy Committee decided to raise the key interest rate, which is the rate on seven-day term deposits, by 25 basis points to 4.5 percent, the Sedlabanki said on Wednesday. "Higher inflation and inflation expectations in recent months have lowered the Centr...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.