AGS afskrifar evru fyrir Ísland

Alþjóða gjaldeyrissjóðurinn tekur undir óopinbera stefnu Seðlabanka Íslands um verðbólgumarmið plús, þ.e. verðbólgumarkmið með  viðbótum sem gætu tengst m.a. svokölluðum þjóðhagsvarúðartækjum, inngripum á gjaldeyrismarkaði og auknu samspili peningamála og opinberra fjármála. Á þann máta mætti stuðla að meiri stöðugleika í verðlagi og fjármálum almennt.

Ekki verður betur séð en stjórnvöld taki undir greiningu Alþjóðagjaldeyrissjóðsins og þar með er evruvæðing úr sögunni.

 

The authorities and staff agreed that preparation of the post-program monetary framework will be a key topic for future reviews. Over the past two years, monetary policy successfully achieved both a stabilization of the exchange rate and a sharp reduction in inflation back to its target, while at the same time securing low domestic interest rates. But it was aided considerably by capital controls, and their eventual liberalization will create considerable challenges for the implementation of monetary policy: the strong pass through of exchange-rate fluctuations to inflation, the still-impaired monetary transmission mechanism, and the potentially destabilizing impact of large capital flows will all have to be taken into account when determining the appropriate monetary policy framework for Iceland. Due consideration will also have to be paid to financial stability and macro-financial linkages. In this regard, macro-prudential tools and policies will be essential to supporting monetary policy going forward

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