February 6, 2019 / 9:10 AM / in 3 months

Iceland c.bank keeps main interest rate on hold, says tourism drop hits growth

COPENHAGEN, Feb 6 (Reuters) - Iceland’s central bank on Wednesday kept its deposit rate unchanged at 4.50 percent and said it expected economic growth of 1.8 percent this year, around 1 percent less than it had projected in November.

“The slowdown in growth is due in particular to a contraction in tourism,” it said.

The bank raised the rate in November from 4.25 percent, its first rate move in more than a year. (Reporting by Teis Jensen; Editing by Hugh Lawson)

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