Iceland's Sedlabanki held its seven-day collateral lending rate at 4.25%, and kept the deposit rate at 3.25% and overnight lending rate at 5.25%. Iceland reported headline inflation of 2.3% in March, which is forecast to peak just above 3.0% later this year. Iceland's economy contracted 1.5% in 4Q 2010, bringing total growth in 2010 to 3.5%, the Bank is forecasting 2011 growth of 2.3%, down from its original forecast of 2.8%. Iceland is currently at risk of a credit downgrade due to the Icesave dispute.
www.CentralBankNews.info
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