Iceland raises interest rate to 15.5%

Iceland has the highest interest rates in Europe after the central bank raised rates by 50 basis points to a record 15.5 per cent, 9 April 2008, as it strove to restore confidence in its struggling currency and quench fears of a banking crisis.

Iceland: Central Bank of Iceland: Press Release, 10.4.08: The Central Bank of Iceland raises its policy rate http://www.sedlabanki.is/?PageID=287&NewsID=1721

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