August 23, 2017 / 9:07 AM / in 10 months

Iceland's central bank keeps key interest rate unchanged

COPENHAGEN, Aug 23 - Iceland’s central bank decided on Wednesday to keep its key deposit rate at 4.50 percent after having cut it four times in the last year.

“The outlook is for GDP growth to be strong this year, as it was in 2016, albeit somewhat weaker than was forecast in the May issue of Monetary Bulletin,” the central bank said.

The central bank cut its key deposit rate in June for the fourth time in less than a year in response to a tourism boom that has strengthened the crown currency. (Reporting by Teis Jensen)

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