Norges Bank
Busy Thursday Calendar for Central Bank Watchers
March 23, 2023
Wednesday belonged to the Federal Reserve, but no fewer than eight other central banks announced their interest rate decisions today. The Swiss National Bank’s policy interest rate was hiked 50 basis points to a 14-1/2 year high of 1.50%. Rate increases of 25 basis points were engineered by the Central Bank of Norway to 3.0%, […] More
Ezone Producer Price Inflation Leaps; Bank of England Defers Hiking its Bank Rate
November 4, 2021
The intensity of recent inflation has become an all-pervasive concern on numerous fronts. A 2.7% monthly leap in Euroland producer prices during September (led by a 7.7% increase in energy costs) lifted the 12-month rate of producer price inflation by 2.6 percentage points to 16.0%. The monthly and yearly comparisons were each the greatest in […] More
U.S. Still Counting Votes as 24-Hour Rise Covid Cases and Deaths Exceed 107K and 1.1K
November 5, 2020
U.S. Election News: Biden’s electoral college count seems likely to reach 270 threshold. Trump is suing to halt counting of absentee ballots, and street protests against such action broke out in several cities overnight. Congress most likely will remain divided with Dems controlling the House and Republicans holding the Senate, but there too ballot counting […] More
Central Bank of Norway Cuts Interest Rate after Unscheduled Meeting
March 13, 2020
Norges Bank’s policy interest rate was reduced to 1.0% from 1.5%, reversing half a full-percentage point tightening implemented in 25-basis point increments in March 2018, March 2019, June 2019, and September 2019. The decision at an extraordinary unscheduled Board meetings was made unanimously. The next scheduled meeting is on March 19. A released statement justifies […] More
Central Bank of Norway
October 26, 2017
The key Norwegian central bank interest rate has been 0.50% since a 25-basis point cut in March 2016. The rate previously was cut 50 basis points in December 2011, twice by 25 bps each in 2014, twice more by 25 bps each in 2015. A statement released today by Norges Bank’s Executive Board asserted that […] More
Bank of Norway
October 27, 2016
Norway’s main central bank interest rate will remain at a record low of 0.50%, the level since a 25-basis point reduction last March. The rate had also been reduced by 50 basis points in both 2014 and 2015. Today’s released statement from the central bank Executive Board is somewhat less dovish than the one following […] More
Norges Bank
September 22, 2016
Norway’s central bank policy rate has been 0.50% since a 25-basis point cut in March. Norway is one of several economies in which monetary policy began to be tightened in the post-Great Recession economic recovery but had to be rescinded subsequently when the economy did not react well. The last cyclical low of 1.25% lasted […] More
Norges Bank
June 23, 2016
Norway’s benchmark central bank interest rate was held at 0.50%, but a statement released after the latest Executive Board meeting said a further cut remains possible. The rate was cut by 25 basis points in March, as well as June and September of last year. There were also two such reductions in 2014 and a […] More
Bank of Norway
May 12, 2016
Norway’s key policy rate had been cut to 0.50% from 0.75% at the prior Executive Board meeting in mid-March, but officials then warned against dangers of ultra-low interest rates and promised to exert caution in considering any further stimulus. Sure enough, the the interest rate was kept at 0.50% at this week’s meeting. And a […] More
Central Bank of Norway
March 17, 2016
The Executive Board of Norges Bank cut Norway’s policy interest rate by another 25 basis points to a record low of 0.50% and released a statement suggesting the rate could drop eventually to zero if needed. From a post-Great Recession high of 2.25%, the rate was lowered by 50 bps in December 2011 and then […] More
