Íslandsbanki

Bogle’s approach offered investors an alternative: investing in index funds that track the market instead of trying to beat it, at the lowest possible cost.

The supply of homes for sale has grown and buyers’ negotiating position has strengthened with the decline in market activity. Subdued sales and a large stock of unsold property put pressure on construction firms, however, and clear signs of a contraction in residential development can now be seen. We expect real house prices to keep falling this year and next, whereupon the market will rebound as interest rates decline.

Recent oil price increases have worsened the near-term inflation outlook. Long-term inflation expectations remain broadly unchanged, with gradual easing expected in the last months of the year.

The ISK has appreciated recently, in spite of a persistent current account deficit and large-scale currency purchases by the Central Bank (CBI) and the pension funds. The outlook is for a gradual weakening over the years ahead.

Payment card turnover contracted year-on-year in real terms in August, its largest downturn in nearly three years. Notably, card turnover abroad contracted for the first time in over two years, after having been the main driver of growth during that period. This supports the contention that private consumption is continuing to lose momentum.

Credit card turnover contracted in real terms in August, marking its largest decline in nearly three years. Notably, turnover abroad contracted for the first time in over two years, after previously being the main growth driver. This supports the view that private consumption is continuing to weaken.

The supply of homes for sale has increased, and buyers’ negotiating position has strengthened alongside reduced market activity. Slower sales and a large stock of unsold properties are pressuring construction firms, with clear signs of a contraction in residential development now visible. The company expects real house prices to continue falling this year and next, followed by a market rebound as interest rates decline.

The recent surge in oil prices has worsened the short-term inflation outlook. However, long-term inflation expectations remain broadly unchanged, with gradual easing expected in the final months of the year.

Icelandic Bank’s Tech Café registrations have been exceptional. All seats were filled at capacity when registration opened, and many customers have joined the waiting list.

The company offers online registration to handle banking needs at any time and place.