Iceland's central bank lifted its key interest rate for the fourth time this year and signaled further hikes to tame inflation.
The Monetary Policy Committee of the Central Bank of Iceland, on Wednesday, decided to raise the key seven-day term deposit rate by 75 basis points to 5.50 percent.
A similar higher rate was last seen in May 2017. The central bank has lifted the benchmark rate by 350 basis points so far this year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.