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Local rates deemed impermissible on foreign loans, says Iceland’s Supreme Court

28th February

Iceland’s Supreme Court recently ruled that lenders may not adjust higher interest rates on foreign-currency-linked loans, overruling a government law from 2010.

Iceland‘s inflation slows for first time since November

28th February

Iceland’s annual inflation rate slowed for the first time since November, easing pressure on the Central Bank to raise interest rates.

Central Bank buys euros for ISK in auction

28th February

On 15 February, the Central Bank of Iceland held an auction to purchase euros against payment in Icelandic Treasury bonds.

Central Bank of Iceland to hold foreign currency auctions

17th February

The Central Bank of Iceland has announced the upcoming dates on which it plans to hold auctions, offering to purchase foreign currency under the Central Bank Investment Programme, and to purchase foreign currency in exchange for Treasury bonds

Iceland foresees rate increases on higher inflation

17th February

The Central Bank of Iceland has indicated that it is ready to raise interest rates in order to cap inflation after consumer prices soared above the official target, and the krona slid against the euro.

Iceland’s Ministry Delivers Pre-Accession Economic Programme for EU Bid

17th February

Iceland’s Ministry of Economic Affairs has handed in a Pre-Accession Economic Programme to the European Union as a part of a bid to join the 27-nation bloc.

Landsbanki winding-up committee sues former bank executives

30th January

The winding-up committee of Landsbanki has brought suit against seven of the bank´s former executives

Glitnir winding-up committee sues former bank executives

30th January

The winding-up committee of the now-defunct Glitnir bank has filed charges against the bank´s former CEO

Central Bank of Iceland offers to purchase euros

16th January

The Central Bank of Iceland is offering to purchase euros in exchange for Icelandic krónur for long-term investment in the Icelandic economy, or in exchange for payment in Treasury bonds.

Corporate bankruptcies rise 63 percent in Iceland

10th January

A record number of Icelandic corporations filed for bankruptcy from January through November of 2011, according to Statistics Iceland.

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