Iceland's fishing industry roots for rate cut amid krona gains

Reykjavik

WHILE the world around it frets over ultra-low interest rates, Iceland's fish export industry is rooting for another rate cut to maintain market share amid a strengthening krona.

"The appreciation of the krona is a large factor in the operations of fishing companies and can impact their bottom line," Heidrun Lind Marteinsdottir, managing director of Fisheries Iceland, an industry lobby, said in a telephone interview. "It is a risk that needs to be taken under special consideration and, if need be, acted upon."