The central bank of Iceland maintained its seven-day term deposit rate at 3% as the country's year-to-date economic developments remains in line with projections.

Iceland's output grew by 0.2% in the first three quarters of 2019, slightly exceeding Seðlabanki Íslands' forecast in November. Headline inflation stood at 2.7% in November, having fallen between months.

The central bank also kept the rates on overnight loans, seven-day collateralized loans and current accounts unchanged.