In October 2008, Iceland's central bank increased its lending rate to 18% in an "effort to prop up the country's frozen current and markets.

Name: In October 2008, Iceland's central bank increased its lending rate to 18% in an "effort to prop up the country's frozen current and markets.
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The central bank increased the lending rate to boost demand for the Icelandic currency, which would shift the demand curve for the currency to the right.

In October 2008, Iceland's Central Bank Increased Its Lending Rate