Icelandic Economic Weekly: 22 August 2022

22 August 2022 - Landsbankinn

Market agents expect inflation to peak in Q3 2022 at an average rate of 10%, according to a survey of market agents’ expectations conducted by the Central Bank of Iceland (CBI) in August.

Last week’s highlights

The housing price index for the capital region increased by 1.1% MoM in July.

Total turnover of domestic payment cards increased by 6.8% YoY in July, at constant prices.

The CBI conducted a survey of market agents’ expectations in August.

Eimskip, Kvika Bank, Síldarvinnslan and VÍS published Q2 earnings.

The week ahead

Today, Reginn and Reitir will publish Q2 earnings.

On Tuesday, Statistics Iceland will release the monthly wage index for July and Síminn will publish Q2 earnings.

We expect the Monetary Policy Committee to raise the policy rate by 0.75 percentage points on Wednesday. The CBI will also publish its quarterly Monetary Bulletin (Peningamál).

On Thursday, Statistics Iceland will release labour market numbers for July and Q2 numbers for trade in goods and services. Brim and Eik will publish Q2 earnings.

On Friday, Play will publish Q2 earnings.

Markets and Economic Overview

Icelandic Economic Weekly 22 August 2022 (PDF)

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