The Swedish Central Bank did it recently, now the Icelandic counterpart is also following suit with a double rate cut. The cut means that the new interest rate will be 8.5 percent, which can be compared to 2.75 percent for the Swedish part.
Iceland has, however, had a higher inflation pressure than Sweden, although there has been a decline also for the Icelandic part. The inflation rate was 5.1 percent in October.
