The Icelandic Government Information Centre

The Monetary Policy Committee (MPC) has voted to lower Central Bank interest rates by 0.5 percentage points. The deposit rate (current account rate) will be lowered to 7.5%. The maximum bid rate for 28-day certificates of deposit (CDs) will be 8.75%. The seven-day collateral lending rate will be 9% and the overnight lending rate 10.5%.

The Governor of The Central Bank will today explain The Monetary Policy Committee's decision to lower Central Bank interest rates in a special webcast that will begin at 11:00.

The Monetary Policy Committee (MPC) has voted to lower Central Bank interest rates by 0.5 percentage points.

In recent days, there has been some discussion of the debt of the Treasury and its debt management.

The Central Bank of Iceland plans to shorten the time the RTGS-system is open by half an hour and to close it at 16:30 instead of 17:00.

Standard & Poor's have today announced the unchanged sovereign rating for Iceland, following the rejection of referendum of legislation to repay IceSave debts. Iceland's sovereign rating , BBB-/A-3 foreign currency ratings and BBB+/A-2 local currency ratings is still on CreditWatch with negative implications

The Icelandic authorities will continue to work towards a satisfactory solution to the Icesave issue on this basis. The three governments have declared their intention to continue the talks and find a solution to the matter.

Press release of the Government of Iceland on the Icesave referendum

The Government of Iceland has for the last three weeks been engaged in a dialogue with the Governments of the Netherlands and the United Kingdom, hoping for a resolution of the Icesave matter.