The Board of Governors of the Central Bank of Iceland has decided to raise the Bank's policy interest rate by 0.45 percentage points to 13.75%. Monetary Bulletin, which is published on the Bank's website after 11 a.m. GMT today, includes the arguments in support of today's decision. The next interest rate decision of the Board of Governors will be announced on December 20, 2007. Thus an interest rate decision date has been added to the previously announced dates for this year. This is done in order to avoid an excessively long period until the first 2008 rate decision. The interest rate decision dates for 2008 will be announced in Monetary Bulletin today.