WOOD Flash – Iceland macro: a simple, positive story
In a world that is navigating a highly complex geopolitical realignment, Iceland stands out as being on a more straightforward trajectory than most, in our view. The economy is strengthening, on the back of recovering tourism, high commodity prices and favourable domestic demand factors. The central bank has increased interest rates by a cumulative 400bps since spring 2021, taking the policy rate to 4.75%, and we expect it to keep raising interest rates, to 8.00%, in coming quarters. Inflation has accelerated to 9.9%yoy in June – the bulk of the inflationary push is due to housing, reflecting Iceland’s expanding population and buoyant credit cycle.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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