01668cas a2200241 a 4500 AALejournalIMF004379 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451819328 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Iceland : Staff Report for the 2006 Article IV Consultation. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (43 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Over the last three years, a rapid expansion in domestic demand has dramatically widened the current account deficit in Iceland. Demand expanded faster than supply, and evidence of overheating is widespread. Monetary policy has tightened, but, until recently, the impact has been channeled primarily through the exchange rate. Despite hikes in the policy rate, increased competition in the mortgage market eased household credit conditions, and household indebtedness has surged. The financial market turbulence early in the year ended the favorable conditions that had allowed banks to fund rapid balance sheet growth. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2006/296 Full text available on IMF http://elibrary.imf.org/view/journals/002/2006/296/002.2006.issue-296-en.xml IMF e-Library