Will interest rates in iceland go up to 20% ?

Question

Will interest rates in iceland go up to 20% ?

Answer 1

"I thought Iceland had a frozen interest rates!"

LOL, my fav answer all day.

OK, now my answer:

Iceland rates are very high, running some 15-16% right now? It would NOT be a surprise to see 20% within a year or two.

Answer 2

I thought Iceland had a frozen interest rates!

Answer 3

probably not,but now that YOU have mentioned it, interest in Iceland as a whole may go up.

Answer 4

well, it's already around 15%, so i guess it could. if you're thinking about investing in kronur, however, you can still lose if the krona falls significantly against your currency.

at the end of 2007 it was about 60 to a US dollar, and by july it was around 80, so even at 15%/year i still would have lost a bundle. the problem is that the krona isn't linked to anything, so the exchange rate fluctuations can get pretty wild...

Answer 5

If you're thinking of investing I would be very careful.

Try Zimbabwe dollars :-)