(Bloomberg) -- Iceland's krona rose to near the
strongest since 2005 against the dollar on speculation labor
market data this week will add to the central bank's case for
keeping interest rates at a record high to curb inflation.
Falling unemployment has fueled wage increases of about 10
percent a year and contributed to the krona's 19 percent rally
against the dollar this year, more than any other currency. The
Sedlabanki, the central bank, said on July 5 that inflation had
fallen less than expected and it would keep benchmark rates at a
record. It previously predicted a cut in November.
Read more at Bloomberg Currencies News
strongest since 2005 against the dollar on speculation labor
market data this week will add to the central bank's case for
keeping interest rates at a record high to curb inflation.
Falling unemployment has fueled wage increases of about 10
percent a year and contributed to the krona's 19 percent rally
against the dollar this year, more than any other currency. The
Sedlabanki, the central bank, said on July 5 that inflation had
fallen less than expected and it would keep benchmark rates at a
record. It previously predicted a cut in November.
Read more at Bloomberg Currencies News
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