Iceland’s Fishing Industry Roots for Rate Cut Amid Krona Gains
- Central bank holds its next rate-setting meeting on Wednesday
- Outcome of Oct. 29 elections may impact fish quota system
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While the world around it frets over ultra-low interest rates, Iceland’s fish export industry is rooting for another rate cut to maintain market share amid a strengthening krona.
"The appreciation of the krona is a large factor in the operations of fishing companies and can impact their bottom line," Heidrun Lind Marteinsdottir, managing director of Fisheries Iceland, an industry lobby, said in a telephone interview. "It is a risk that needs to be taken under special consideration and, if need be, acted upon."