There is a interesting earthquake activity taking place in south part of Katla volcano south caldera rim. This activity has been ongoing since in July 2011 after the minor eruption that year. The most logical reason for this earthquake activity is that in this location is a magma dike on the move. If that is actually the case is impossible to know for now. But this activity remains interesting for many reasons.
Earthquake activity in south Katla volcano caldera rim. This earthquakes are all small earthquakes. Copyright of this image belongs to Icelandic Meteorological Office.
This earthquakes are small. Most of them are on the magnitude range of 0.0 to 0.5. There depth is around 1 km up to 0.1 km (around 100 meters). So whatever is creating this earthquake activity is already shallow up in the crust. I do not know if there is going to be a eruption in this area. That is just a wait and see as always with volcanoes. But it is my estimate that (based on older data) this might mean there is more activity going to take place in Katla volcano soon. But that might fail. Since volcanoes are by nature unpredictable. So there are no assurances about what is going to happen next in Katla volcano.
Are there any sources (GPS?) that show if there is inflation at Katla/Myrdalsjökull at this place? My links are all last updated 2011.