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Iceland cbank says economy sound, risks could lead to overheating
April 6, 2017 / 11:35 AM / 8 months ago

Iceland cbank says economy sound, risks could lead to overheating

REYKJAVIK, April 6 (Reuters) - Iceland’s economy is doing well and the financial system is sound, but there are risks that could lead to overheating in the longer term, the central bank said on Thursday.

Last month, the country removed capital controls imposed during the 2008 financial crisis.

The central bank said those measures had proceeded smoothly.

“Risks to financial stability have not materialised during the liberalisation process. This has reduced the level of assessed risk,” it said in its bi-annual financial stability report.

It said risks in the financial system were related to the real estate market, a rapidly growing tourism industry and the removal of capital controls.

Reporting by Ragnhildur Sigurdardottir and Daniel Dickson; Editing by Simon Johnson

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