Iceland's central bank hiked its key interest rate by 75 basis points on Wednesday to a two-year high, as inflation continued to stay high amid a strong rise in house prices and robust economic recovery.
The Monetary Policy Committee of the Central Bank of Iceland decided to raise the key seven-day term deposit rate by 0.75 percentage points to 2.75 percent from 2.00 percent.
The bank had raised its key rate four times last year.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.