Norges Bank

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economies in which monetary policy began to be tightened in the post-Great Recession economic recovery but had to be rescinded subsequently when the economy did not react well.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

Norway’s Central Bank Policy Rate Kept at 0.75%

December 17, 2015

Officials at Norges Bank had in the past year cut the policy interest rate in December 2014, June 2015 and September 2015 by 25 basis points each time.  Today’s statement strikes a cautious note: ” The krone has depreciated and inflation has picked up. A lower key policy rate may increase the risk of a […] More