Iceland: central bank policy rate

Last updated: Oct 9, 2026 11:15 UTC

Policy rate8.00%Oct 6, 2026

For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.

SinceAug 19, 2026hike +25 bp

1 year ago7.50%

Last 2 years (daily values)

Policy rate since 2000 (month-end values)

All changes since 2000

Date	From	To	Change
Aug 19, 2026	7.75%	8.00%	hike +25 bp
May 20, 2026	7.50%	7.75%	hike +25 bp
Mar 18, 2026	7.25%	7.50%	hike +25 bp
Nov 19, 2025	7.50%	7.25%	cut -25 bp
May 21, 2025	7.75%	7.50%	cut -25 bp
Mar 19, 2025	8.00%	7.75%	cut -25 bp
Feb 5, 2025	8.50%	8.00%	cut -50 bp
Nov 20, 2024	9.00%	8.50%	cut -50 bp
Oct 2, 2024	9.25%	9.00%	cut -25 bp
Aug 23, 2023	8.75%	9.25%	hike +50 bp
May 24, 2023	7.50%	8.75%	hike +125 bp
Mar 22, 2023	6.50%	7.50%	hike +100 bp
Feb 8, 2023	6.00%	6.50%	hike +50 bp
Nov 23, 2022	5.75%	6.00%	hike +25 bp
Oct 5, 2022	5.50%	5.75%	hike +25 bp
Aug 24, 2022	4.75%	5.50%	hike +75 bp
Jun 22, 2022	3.75%	4.75%	hike +100 bp
May 4, 2022	2.75%	3.75%	hike +100 bp
Feb 9, 2022	2.00%	2.75%	hike +75 bp
Nov 17, 2021	1.50%	2.00%	hike +50 bp
Oct 6, 2021	1.25%	1.50%	hike +25 bp
Aug 25, 2021	1.00%	1.25%	hike +25 bp
May 19, 2021	0.75%	1.00%	hike +25 bp
Nov 18, 2020	1.00%	0.75%	cut -25 bp
May 20, 2020	1.75%	1.00%	cut -75 bp
Mar 18, 2020	2.25%	1.75%	cut -50 bp
Mar 11, 2020	2.75%	2.25%	cut -50 bp
Feb 5, 2020	3.00%	2.75%	cut -25 bp
Nov 6, 2019	3.25%	3.00%	cut -25 bp
Oct 2, 2019	3.50%	3.25%	cut -25 bp
Aug 28, 2019	3.75%	3.50%	cut -25 bp
Jun 26, 2019	4.00%	3.75%	cut -25 bp
May 22, 2019	4.50%	4.00%	cut -50 bp
Nov 7, 2018	4.25%	4.50%	hike +25 bp
Oct 4, 2017	4.50%	4.25%	cut -25 bp
Jun 14, 2017	4.75%	4.50%	cut -25 bp
May 17, 2017	5.00%	4.75%	cut -25 bp
Dec 14, 2016	5.25%	5.00%	cut -25 bp
Aug 24, 2016	5.75%	5.25%	cut -50 bp
Nov 4, 2015	5.50%	5.75%	hike +25 bp
Aug 19, 2015	5.00%	5.50%	hike +50 bp
Jun 10, 2015	4.50%	5.00%	hike +50 bp
Dec 10, 2014	5.00%	4.50%	cut -50 bp
Nov 5, 2014	5.25%	5.00%	cut -25 bp
May 21, 2014	5.375%	5.25%	cut -12 bp
Nov 14, 2012	5.125%	5.375%	hike +25 bp
Jun 13, 2012	4.875%	5.125%	hike +25 bp
May 16, 2012	4.375%	4.875%	hike +50 bp
Mar 21, 2012	4.125%	4.375%	hike +25 bp
Nov 2, 2011	3.875%	4.125%	hike +25 bp
Aug 17, 2011	3.625%	3.875%	hike +25 bp
Feb 2, 2011	3.875%	3.625%	cut -25 bp
Dec 8, 2010	4.625%	3.875%	cut -75 bp
Nov 3, 2010	5.375%	4.625%	cut -75 bp
Sep 22, 2010	6.125%	5.375%	cut -75 bp
Aug 19, 2010	6.625%	6.125%	cut -50 bp
Aug 18, 2010	7.125%	6.625%	cut -50 bp
Jun 23, 2010	7.625%	7.125%	cut -50 bp
May 5, 2010	8.125%	7.625%	cut -50 bp
Mar 17, 2010	8.625%	8.125%	cut -50 bp
Jan 27, 2010	9.125%	8.625%	cut -50 bp
Dec 10, 2009	9.625%	9.125%	cut -50 bp
Nov 5, 2009	9.75%	9.625%	cut -12 bp
Oct 1, 2009	9.50%	9.75%	hike +25 bp
May 7, 2009	12.50%	9.50%	cut -300 bp
Apr 8, 2009	14.00%	12.50%	cut -150 bp
Apr 1, 2009	17.00%	14.00%	cut -300 bp
Mar 19, 2009	18.00%	17.00%	cut -100 bp
Oct 28, 2008	12.00%	18.00%	hike +600 bp
Oct 15, 2008	15.50%	12.00%	cut -350 bp
Apr 10, 2008	15.00%	15.50%	hike +50 bp
Mar 25, 2008	13.75%	15.00%	hike +125 bp
Nov 1, 2007	13.30%	13.75%	hike +45 bp
Dec 21, 2006	13.09%	13.30%	hike +21 bp
Sep 14, 2006	12.65%	13.09%	hike +44 bp
Aug 16, 2006	12.21%	12.65%	hike +44 bp
Jul 6, 2006	11.54%	12.21%	hike +67 bp
May 18, 2006	10.87%	11.54%	hike +67 bp
Mar 30, 2006	10.20%	10.87%	hike +67 bp
Jan 26, 2006	9.97%	10.20%	hike +23 bp
Dec 2, 2005	9.75%	9.97%	hike +22 bp
Oct 12, 2005	9.00%	9.75%	hike +75 bp
Oct 10, 2005	9.75%	9.00%	cut -75 bp
Sep 29, 2005	9.07%	9.75%	hike +68 bp
Jun 3, 2005	8.61%	9.07%	hike +46 bp
Mar 22, 2005	8.38%	8.61%	hike +23 bp
Feb 18, 2005	7.92%	8.38%	hike +46 bp
Dec 2, 2004	6.99%	7.92%	hike +93 bp
Oct 29, 2004	6.53%	6.99%	hike +46 bp
Sep 17, 2004	6.06%	6.53%	hike +47 bp
Jul 1, 2004	5.59%	6.06%	hike +47 bp
Jun 1, 2004	5.35%	5.59%	hike +24 bp
May 6, 2004	5.16%	5.35%	hike +19 bp
Feb 10, 2003	5.63%	5.16%	cut -47 bp
Dec 12, 2002	6.10%	5.63%	cut -47 bp
Nov 6, 2002	6.57%	6.10%	cut -47 bp
Oct 15, 2002	6.85%	6.57%	cut -28 bp
Sep 18, 2002	7.31%	6.85%	cut -46 bp
Aug 30, 2002	7.59%	7.31%	cut -28 bp
Aug 1, 2002	8.15%	7.59%	cut -56 bp
Jun 18, 2002	8.42%	8.15%	cut -27 bp
May 16, 2002	8.88%	8.42%	cut -46 bp
Apr 30, 2002	9.15%	8.88%	cut -27 bp
Mar 26, 2002	9.60%	9.15%	cut -45 bp
Nov 8, 2001	10.33%	9.60%	cut -73 bp
Mar 27, 2001	10.77%	10.33%	cut -44 bp
Oct 31, 2000	10.06%	10.77%	hike +71 bp
Jun 16, 2000	9.60%	10.06%	hike +46 bp
Feb 11, 2000	9.33%	9.60%	hike +27 bp
Jan 11, 2000	8.60%	9.33%	hike +73 bp

Which rate is shown (BIS notes, in English)

From 21 May 2014 onwards: Central Bank term deposit rate; from Sep 2009 to 20 May 2014: average of the current account rate and the maximum rate on 28-day certificates of deposits; from 1 Apr 2009 to Sept 2009: current account rate; from 2 Mar 1998 to 31 Mar 2009: 7 day collateralised lending rate.

Changes by year

Method

We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).

About this page

The policy rate of Iceland is 8.00% (BIS data as of Oct 6, 2026).