October 11, 2018 / 2:47 PM / 2 months ago

Iceland plans to merge central bank and financial regulator

FILE PHOTO - Iceland's Central Bank logo on the wall of the bank's main building in Reykjavik January 26, 2009. REUTERS/Ints Kalnins

COPENHAGEN (Reuters) - Iceland said it plans to merge its central bank and Financial Supervisory Authority to enable more efficient supervision of financial markets and implementation of macroprudential policy.

“The inflation target is to be retained as the main monetary policy objective,” the government said in a statement, adding that “the Central Bank and the Financial Supervisory Authority (FME) are to be merged”.

Reporting by Teis Jensen; Editing by Susan Fenton

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