October 11, 2018 / 2:47 PM / 6 days ago

Iceland plans to merge central bank and financial regulator

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.

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

“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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