Iceland's central bank retained its key interest rates on Wednesday as inflationary pressures remain despite a slowdown in inflation.
The Monetary Policy Committee of the Central Bank of Iceland unanimously decided to keep the seven-day term deposit rate unchanged at 7.50 percent.
"Further interest rate cuts will depend on whether inflation moves closer to the Bank's 21/2% target," the bank said in a statement.
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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.