Members of the Iceland central bank’s policy board discussed increasing the benchmark interest rate by 25 basis points, according to minutes of the bank’s August 20 and August 21 rate meetings, published today.
The Monetary Policy Committee “discussed leaving the bank’s rates unchanged or raising them by 0.25 percentage points,” the minutes showed. “The governor proposed that the bank’s interest rates be kept unchanged.”
Four of the committee’s five members supported the no change proposal, while one “voted against the governor’s proposal and preferred that rates would be raised by 0.25 percentage points,” according to the minutes.
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