Iceland's central bank decided to raise the interest rates by 25 basis points on Wednesday as inflation expectations increased amid the escalation of the conflict in the Persian Gulf.
The Monetary Policy Committee of the Central Bank of Iceland decided to raise the seven-day term deposit rate by 25 basis points to 7.50 percent.
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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.