Central Bank of Norway

Bank of Norway

May 4, 2017

The Executive Board of Norges Bank left its main policy interest rate at 0.50%. Such was cut six times from December 2011 through March of last year, each time by 25 basis points. In today’s released statement, officials continue to defend maintaining an accommodative stance because of low capacity usage and project 1-2% inflation “over […] More

Central Bank of Norway Keeps 0.50% Interest Rate

March 16, 2017

A 50-basis point interest rate cut in December 2011 followed by five 25-bp reductions from March 2012 to March 2016 depressed Norway’s central bank interest rate from 2.25% to the current 0.50% level. Today’s released new statement projects the rate will stay at this level for more than another year but concedes a higher probability […] More

Central Bank of Norway Keeps 1.5% Benchmark Interest Rate and Releases Dovish Statement

June 19, 2014

Norges Bank’s policy rate has been at 1.5% since a 25-basis point cut in March 2012, which followed a 50-bp cut in November 2011.  The current level is only 25 basis points above the mid-2009 low.  A statement from the central bank Executive Board observes that other countries are likely to take longer to raise […] More

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 […] More

Norwegian Monetary Policy Unchanged

September 19, 2013

The analyses imply a key policy rate at today’s level in the period to summer 2014, followed by a gradual increase to a more normal level,” says Deputy Governor Jan F. Qvigstad. This was the ninth straight meeting in which the policy rate was left at 1.5%.  The last changes were cuts of 50 basis […] More

Norges Bank Signals Unchanged Monetary Policy for another Year

March 14, 2013

“The analyses suggest that the key policy rate be kept low longer than previously anticipated. The first increase in the key policy rate is now projected to take place in spring 2014,” says Governor Øystein Olsen. The central bank’s policy interest rate has been at 1.5% since a 25-basis point rate cut March 2012, and […] More

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