India, Aug. 19 -- Iceland's central bank raised its benchmark rates for the third time this year to address elevated inflation and inflation expectations amid global economic uncertainties.
The Monetary Policy Committee of the Central Bank of Iceland decided to raise the interest rates by 0.25 percentage points. The rate on seven-day term deposits was lifted to 8.00 percent.
The bank has hiked its rates by 75 basis points since March. The increase in March was the first since August 2023.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News....