Iceland's central bank reduced its key interest rate by 75 basis points to a record low on Wednesday, as the economy is forecast to contract the most since 1920 due to the coronavirus pandemic.
The Monetary Policy Committee of the Central Bank of Iceland, on Wednesday, decided to cut the key interest rate, which is the seven-day term deposit rate, by 75 basis points to 1.00 percent.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.