27 June 2022 - Landsbankinn
The MPC raised the policy rate by 1 percentage point last week. The CBI’s key interest rate (seven-day term deposits) is now 4.75%, the highest in 5 years.
Last week’s highlights
- The unemployment rate decreased to 3.9% in May, from 4.5% in April.
- The housing price index for the capital region increased by 3% MoM in May.
- The MPC raised the policy rate by 1 percentage point last week. The CBI’s key interest rate (seven-day term deposits) is now 4.75%. The MPC has raised interest rates by a total of 4 percentage points since it began the current rate hike cycle in May of last year.
- Statistics Iceland published the monthly wage index for May, which rose by 0.4%.
The week ahead
- On Wednesday, Statistics Iceland will release CPI numbers for June.
- On Thursday the CBI will publish its quarterly Economic Indicators and Hagar will publish Q2 earnings.
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