India, Aug. 20 -- Iceland's central bank retained its key interest rates on Wednesday as inflationary pressures remain despite a slowdown in inflation.
The Monetary Policy Committee of the Central Bank of Iceland unanimously decided to keep the seven-day term deposit rate unchanged at 7.50 percent.
"Further interest rate cuts will depend on whether inflation moves closer to the Bank's 21/2% target," the bank said in a statement.
Headline inflation softened to 4 percent in July. But it will rise again in the months ahead and then start to ease in early 2026, the committee said.
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In line with tight monetary policy stance, growth in domestic demand subside...