RTTNews - Thursday, the Iceland central bank reduced its key interest rate by 100 basis points.

The Monetary Policy Committee of the Central Bank of Iceland decided to lower the policy rate to 12%. The overnight lending rate was also reduced by 100 basis points. Meanwhile, other interest rates remain unchanged.

Last month, the MPC had lowered the policy rate and overnight lending rate by 250 basis points to 13% and 17%, respectively.

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