Iceland policy rate in 2024 (2 changes)

Start of year9.25%

End of year8.50%Dec 31, 2024

Net change-75 bp0 hikes, 2 cuts

Average9.135%

Rank by level6 / 38

Changes in 2024

Date	From	To	Change
Oct 2, 2024	9.25%	9.00%	cut -25 bp
Nov 20, 2024	9.00%	8.50%	cut -50 bp

Compared with other areas at the end of 2024

Türkiye47.5%

Russia21%

Brazil12.25%

Mexico10%

Colombia9.5%

Iceland8.5%

South Africa7.75%

Romania6.5%

India6.5%

Hungary6.5%

Indonesia6%

Serbia5.75%

Poland5.75%

Philippines5.75%

North Macedonia5.55%

Saudi Arabia5%

Peru5%

Chile5%

Hong Kong4.75%

United Kingdom4.75%

Norway4.5%

Israel4.5%

United States4.375%

Australia4.35%

New Zealand4.25%

Kuwait4%

Czechia4%

Canada3.25%

China3.1%

Euro area3%

Malaysia3%

South Korea3%

Sweden2.75%

Denmark2.6%

Morocco2.5%

Thailand2.25%

Switzerland0.5%

Japan0.25%

Year-end rate over time

20268%

20257.25%

20248.5%

20239.25%

20226%

20212%

20200.75%

20193%

20184.5%

20174.25%

20165%

20155.75%

20144.5%

20135.375%

20125.375%

20114.125%

20103.875%

20099.125%

200818%

200713.75%

200613.3%

20059.97%

20047.92%

20035.16%

20025.63%

20019.6%

200010.77%

← 2023 2025 →

2024: hikes and cuts worldwide →

Daily policy-rate data compiled by the BIS. Not investment advice.