India, March 19 -- Iceland central bank lowered its benchmark rate for the fourth consecutive meeting on Wednesday, but policymakers stressed on the need for caution in future as inflationary pressures remain, and in view of the heighted global economic uncertainty.
The Monetary Policy Committee of the Central Bank of Iceland, led by Governor Asgeir Jonsson, unanimously reduced the seven-day term deposit rate by 25 basis points to 7.75 percent.
"Although inflation has eased and inflation expectations have fallen in the recent term, inflation pressures remain, which calls for a continued tight monetary stance and caution regarding decisions going forward," the Reykjavik-based central bank said. "This is compounded by significant global eco...