Central Banker Cuts Interest Rate in Christmas Sweater

Governor of the Central Bank Már Guðmundsson announced that the key interest rate would decrease by 0.5 percent to 5.25 percent this morning while wearing a Christmas sweater as part of a fundraising initiative for Barnaheill – Save the Children Iceland, Iceland Review reports.

The main reason for the Monetary Policy Committee’s decision is continued outlook for low inflation. Már stated he is skeptical of numbers saying economic growth will be lower than forecast as they are at odds with other economic developments, ruv.is reports

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