Central Bank of Norway
September 21, 2017
A released statement from Norges Bank’s Executive Board after the latest policy review defends keeping Norway’s key monetary policy rate at 0.50% in the period ahead, suggests that the initial increase may need to occur somewhat sooner than projected back in June, but also maintains that persistent uncertainties will require a careful and gradual eventual rise in the interest rate. The last policy rate change was a 25-basis point cut in March 2016. Expansionary policy is still needed because capacity utilization in the Norwegian economy is below a normal level, and the outlook suggests that inflation will remain below 2.5 percent in the coming years.” Note is also made that interest rates are low in other countries.
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Central Bank of Norway
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