The Central Bank of Iceland lowered its benchmark interest rate unexpectedly on Wednesday amid a recent easing trend in inflation.
The Monetary Policy Committee of the central bank reduced the rate on seven-day term deposits by 0.25 percent to 9.0 percent. Further, this was the first rate cut since November 2020.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.