October 3, 2018 / 9:16 AM / 2 months ago

Iceland central bank keeps interest rate steady

Oct 3 (Reuters) - Iceland’s central bank on Wednesday kept its key deposit rate unchanged at 4.25 percent. It last cut the rate in October last year in response to a tourism boom that had strengthened the country’s crown currency.

The central bank said the crown had depreciated since the last Monetary Policy Committee meeting in August and that exchange rate volatility had increased in September, in part due to uncertainty about financing at Wow Air, one of Iceland’s major airlines. (Reporting by Teis Jensen; Editing by Toby Chopra)

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