The policy rates lower today by one percent. The money policy committee of the central bank of Iceland has decided to lower the interests in the credit accounts of deposit institutions by 0,5 percent down to 9%.

In the announcement says that the maximum amount for weekly auctions of balance bonds for 28 days will be increased from 25 billion króna into 30 billion króna with 9,5% minimum interests and 10,25% maximum interests. That includes a 0,25% raise of maximum interests.

Interests of loans with mortgages for seven days (policy rates) will be lowered from 12% to 11% and day loan interests from 14,5% to 13%.

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