Iceland central bank lowered its benchmark interest rate for the fifth successive rate-setting session as the economy is forecast to contract this year.The Monetary Policy Committee of the Central Bank of Iceland, on Wednesday, reduced the interest rate by 25 basis points to a record low 3.00 percent. "The Bank's interest rates have been cut by 1.5 percentage points since the spring, and the impac...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.