Weekly bul­letin 20 Novem­ber 2023

In the most recent market expectation survey, carried out two weeks ago, a majority of respondents considered the monetary policy stance too tight rather than too loose. This is quite a change - the majority has considered the stance too loose since January 2020.
Seðlabanki
20 November 2023

The week ahead

  • On Tuesday, the Housing and Construction Authority (HMS) releases the housing price index for the capital area.
  • On Wednesday, the Monetary Policy Committee (MPC) announces its policy rate decision. We forecast unchanged rates. Alongside the rate decision, the Central Bank of Iceland (CBI) will publish its Monetary Bulletin, containing a new macroeconomic forecast. Iceland Seafood publishes results.
  • On Thursday, Hampiðjan and Síldarvinnslan publish their financial statements.

Image of the week

In the most recent survey of market expectations carried out 6-8 November, 27% of respondents considered the monetary policy stance too tight while only 13% considered it too loose. This is the first time since January 2020 that more respondents consider restraint too tight than too loose. In the past 10 surveys, respondents have deemed the stance too loose and, following the publication of the survey results, the MPC has invariably raised the policy rate at its next meeting.

Highlights of the previous week

Statistics and market data

Weekly bulletin 20 November 2023 (PDF) (in Icelandic)

Disclaimer
This review and/or summary is marketing material intended for information purposes and not for business purposes. This marketing material does not contain investment advice or independent investment analysis. The legal provisions that apply to financial advice and financial analysis do not apply to this content, including the ban on transactions prior to publication.

Information about the prices of domestic shares, bonds and/or indices is source from Nasdaq Iceland - the Stock Exchange. Landsbankinn’s website contains further information under each individual equity, bond class or index. Information about the prices of non-domestic financial instruments, indices and/or funds are sourced from parties Landsbankinn considers reliable. Past returns are not an indication of future returns.

Information about the past returns of Landsbréf funds is based on information from Landsbréf. Detailed information about the historic performance of individual funds is available on Landsbankinn’s website, including on returns for the past 5 years. Information about the past performance of funds show nominal returns, unless otherwise stated. If results are based on foreign currencies, returns may increase or decrease as a result of currency fluctuations. Past returns are not necessarily an indication of future returns.

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