Norges Bank Maintains 1.5% Policy Interest Rate

October 24, 2013

For a tenth straight time, Norway’s central bank executive board members left their policy interest rate at 1.5%.  No change had been considered, and the policy outlook still considers a rate change unlikely before 3Q14.  A statement summarizes developments since it met on September 19 as follows: “Inflation in September was lower than expected, but at the same time the krone has depreciated since the previous monetary policy meeting. In other respects, economic developments both in Norway and abroad have been broadly in line with expectations.”  Growth is subdued, and inflation is expected to settle just below 2.5% in coming years.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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