Iceland's central bank Tuesday pushed its key interest rate up to a record high of 18% from 12%, reversing a hefty rate cut earlier in the month.[...]
Trade in the Icelandic krona is at a virtual standstill and is fixed by the central bank in a daily foreign currency auction. Monday, the rate was fixed at 152 kronur to the euro and 120.69 kronur to the dollar.
It is as if the unwinding of the carry trade that blew them up in the first place was the thin shadow of a distant memory. Apparently, the massive hike is the IMF's bright idea.
Oh, what I wouldn't give for a foreign exchange account, access to the kronur and a big hunk of liquidity right now.
Iceland Raises Key Rate Six Points [The Wall Street Journal]
Posted by guest , Oct 28, 2008 8:32AM
Buy Buy Buy! Rawr!
Posted by VOL IS KING , Oct 28, 2008 8:34AM
did you actually read the article? their fx market is closed and the rate increase is a condition of the IMF loan.
The central bank obviously isn't reversing itself by choice.
anyway, good luck with your imaginary trade, it should payoff well. those are always the most profitable.
Posted by ep , Oct 28, 2008 8:44AM
"did you actually read the article? their fx market is closed and the rate increase is a condition of the IMF loan."
I believe I believe I specified "access to the kronur" as a feature of my wish. But perhaps you didn't read my article.
Posted by guest , Oct 28, 2008 8:49AM
N.A.S. Keflavik boi sez:
Stay the hell away from the Kronur
It'll danza slap you with a viking boner
Campbell Soup kid broads with chubby legs
Lookin for men and a currency peg
Smack that Nordics with exchange controls
Boffin them blondies, and smokin bowls
A brutha can live large and do lotta screwin
Working hos named Inge in the Blue Lagoon
Takk Fyrir for the goods time, bitch
But now it's time for me to make my switch
N.A.S. Keflavik boi
ICEDEFOR-Joint Reserve Unit
"I'll drink up all the brennivin ya got on ya shelf..."
Posted by guest , Oct 28, 2008 8:53AM
"vol is king" sounds like a deprived little piece of work.
Posted by guest , Oct 28, 2008 8:54AM
#5 You meant depraved? But deprived works as well.
Posted by VOL IS KING , Oct 28, 2008 8:59AM
Yeah i'm just cranky.
If you're going wish unlimited access to monies why not just make it dollars and put in your bank account directly. That was my only point, the hypothetical becomes so strained as to render it meaningless.
Posted by guest , Oct 28, 2008 9:03AM
N.A.S. Keflavik = ill flow
Posted by SOFA KING , Oct 28, 2008 9:08AM
Dear Iceland,
Lets get something straight. You know, and we know that your women are smoke shows for the most part. Do those of us that operate in more "reliable" currencies a favor and quit trying to prevent us from getting more Icelandic tai... err "bang for my buck."
THAAAAAAANKS!
Posted by guest , Oct 28, 2008 9:14AM
DB Rumors>>>>>DB Trade ideas
Posted by guest , Oct 28, 2008 9:22AM
"Oh, what I wouldn't give for a foreign exchange account, access to the kronur and a big hunk of liquidity right now."
How exactly would you propose to profit from this? Carry trade in Iceland?
Posted by guest , Oct 28, 2008 9:26AM
@ 8 ---
the only ill flow is from your withered prostate.
Grab some vitamin E and yohimbe root, son
Posted by guest , Oct 28, 2008 9:29AM
I heard there was some interesting news involving VW that your site might want to at least reference.
Posted by guest , Oct 28, 2008 9:31AM
@13- oh, you mean like in opening bell?
Posted by Tau , Oct 28, 2008 10:01AM
Psh, this is nothing. The IMF is only giving Iceland 2 sticks. Ukraine's sucking on the pipe for 17 and Pakistan's another 15 - that's where the most awesomest parties are going to be
Posted by guest , Oct 28, 2008 10:40AM
@15 -- but it's two sticks for ONLY 300,000 people!!!
that's 7,000 bux per
the pakis are gettin 150 bux per
They're gona party like it's 929 -- Viking Saga style, son
N.A.S. Kelfavik boi
"save a coupla lamb-dogs and a few pints of Thule ale for me, Sigli..."
Posted by guest , Oct 28, 2008 10:41AM
@15 -- but it's two sticks for ONLY 300,000 people!!!
that's 7,000 bux per
the pakis are gettin 150 bux per
They're gonna party like it's 929 -- Viking Saga style, son
N.A.S. Kelfavik boi
"save a coupla lamb-dogs and a few pints of Thule ale for me, Sigli..."