Norges Bank

May 8, 2014

The overnight deposit rate will continue at 1.5%, the level since cuts of 50 basis points in December 2011 and 25 bps in March 2012.  The Great Recession low was at 1.25% and followed by four 25-basis point hikes between October 2009 and May 2011. The Executive Board’s statement today notes “that it may take even longer for key rates abroad to increase” and expresses satisfaction with wage and price trends.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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