Iceland Central Bank Lowers Interest Rates

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10:19 GMT

05

Nov 2009

Iceland Central Bank Lowers Interest Rates

(RTTNews) - Thursday, the Monetary Policy Committee of the Central Bank of Iceland lowered it seven-day collateral lending rate to 11% from 12%. That was the first rate cut since June, when the rate was lowered by 100 basis points.

The central bank also reduced its deposit rate by 0.5 percentage points to 9% and the overnight lending rate to 13% from 14.5%.

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