Consumer confidence in Iceland rose 1.4 percent in December

Geothermal Energy in IcelandReuters reports thtat Consumer confidence in Iceland is up 1.4 % in December from last month, but is down over 15 % from 2006. Figures from market research firm Gallup showed this when made puplic last Friday.

The index rose 1.6 points from 116 to to 117.6 the month before. Iceland central bank  (Sedlabanki) held interest rates unchanged this week at a record 13.75 %. The banks spokesman said the impact of its latest of its 19 monetary policy hikes in less than four years and a worsening global outlook, would cool the fast moving Icelandic economy.

The bank raised rates by 45 basis points on November the 1st 2007. Data showed inflation hit 5.9 percent year-on-year in early December 2007.