Iceland Releases Jun CPI
Iceland is releasing its June CPI data, with the country's central bank having raised interest rates twice in the current tightening cycle
75% for its 2nd straight rate hike under the current tightening cycle. Statement noted that i nflation outlook had deteriorated; aided by a surge in oil and commodity prices. Inflation expectations had risen; particularly in the short term. Outlook saw lower GDP growth and higher unemployment.
**Insight: Iceland Central Bank has now raised the 7-Day Term Deposit Rate twice under the current tightening cycle by a total of 50bps. The last hike was in May 2026 (last meeting)