Iceland's central bank keeps rate at 7.25%
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Iceland's central bank has maintained its policy interest rate at 7.25% due to persistent high inflation, with consumer prices rising 5.2% year-on-year in January. The bank indicated that any future rate cuts will depend on clear evidence of inflation returning to its target of 2.5%. Despite a cooling labor market and eased economic activity, underlying inflationary pressures remain significant, as noted in a statement from Sedlabanki.
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