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Iceland's central bank keeps key interest rate unchanged, lowers GDP forecast
November 15, 2017 / 9:13 AM / 10 days ago

Iceland's central bank keeps key interest rate unchanged, lowers GDP forecast

COPENHAGEN, Nov 15 (Reuters) - Iceland’s central bank kept its key deposit rate unchanged at 4.25 percent on Wednesday and lowered its forecast for economic growth this year.

It now expects GDP to grow by 3.7 percent this year, down from 7.4 percent last year, “as a result of a slowdown in export growth,” it said.

The central bank cut its key deposit rate in October for the fifth time since August last year to offset the impact of lower inflation. (Reporting by Teis Jensen Editing by Jeremy Gaunt)

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