29 August 2022 - Landsbankinn
The Central Bank of Iceland (CBI) raised interest rates by 0.75 percentage points. The policy rate is now 5.5% and has not been higher in six years.
Last week’s highlights
- Statistics Iceland released the monthly wage index for July.
- The Monetary Policy Committee of the CBI raised the Bank’s interest rates by 0.75 percentage points. The Bank’s policy rate – the rate on seven-day term deposits – is 5.5% following this change.
- The CBI published its quarterly Monetary Bulletin (Peningamál).
- The seasonally adjusted unemployment rate in July was 4.1%, according to Statistics Iceland.
- Reginn, Reitir, Play, Síminn, Brim and Eik published Q2 earnings.
The week ahead
- On Tuesday, Statistics Iceland will release CPI numbers for August. Origo and Sýn will publish Q2 earnings.
- On Wednesday, Statistics Iceland will publish national accounts for Q2 and preliminary estimates for 2021.
- On Friday, the CBI will release balance of payments and external position for Q2.
Markets and Economic Overview
You may also be interested in


9 April 2025
Landsbankinn Economic Research forecasts 1.4% economic growth this year and 2.1% next year. The economy has cooled down following a robust period of growth in the years after the pandemic and we now anticipate a slow start.

1 April 2025
Monthly statistics analysis and an overview of current economic affairs in Iceland.

3 March 2025
Monthly statistics analysis and an overview of current economic affairs in Iceland.

3 Feb. 2025
Monthly statistics analysis and an overview of current economic affairs in Iceland.

7 Jan. 2025
Monthly statistics analysis and an overview of current economic affairs in Iceland.

3 Dec. 2024
Monthly statistics analysis and an overview of current economic affairs in Iceland.

6 Nov. 2024
Monthly statistics analysis and an overview of current economic affairs in Iceland.

21 Oct. 2024
Last week, we published an economic forecast to the year 2027. The housing price and rental price indexes decreased more between months in September and household payment card turnover contracted between years domestically while rising abroad. The Central Bank of Iceland (CBI) published the minutes of the Monetary Policy Committee (MPC) meeting, which shows that all Committee members agreed to lower the policy rate. Several companies publish financial results this week.

15 Oct. 2024
Landsbankinn Economic Research forecasts a status quo in the economy between years and a 0.1% contraction in GDP. Setbacks affected the export sector in the first half of the year, with capelin catch failure and slower growth in the travel sector causing a contraction. This has been compounded by the cooling impact of high interest rates on demand, which nevertheless remains strong.