Norges Bank
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
Central Bank of Norway
September 24, 2015
Norway’s key monetary policy rate has been cut by 25 basis points at a second straight meeting of the Executive central bank board, and the released statement warned of further possible reductions in the coming year. The economy of this energy producer has been hurt by sharply falling oil prices. The statement provides two reasons […] More
Many Central Banks Are Heard From
December 11, 2014
Even before the highly awaited U.S. retail sales report, several central bank policy announcements held the market’s attention. The Reserve Bank of New Zealand kept its official cash rate at 3.5%. Although inflation is currently modest, it is expected to approach 2% later in the forecast period, and that will likely necessitate a further increase […] More
Norwegian Monetary Policy Remains on Pause
October 23, 2014
The interest rate cuts by the Executive Board of Norges Bank of 50 basis points in December 2011 and 25 bps in March 2012 returned the benchmark to 1.5%, its lowest level since October-November of 2009 and just 25 basis points above the Great Recession low earlier in 2009. No changes have been made at […] More
Norwegian Monetary Policy Unchanged
September 18, 2014
The Executive Board of Norges Bank left its key interest rate at 1.5%. This was the fifteenth consecutive meeting to decide that policy didn’t need changing, and at 1.5% such is just 25 basis points above the Great Recession low. Seven reductions between October 2008 and June 2009 had cut the interest rate to 1.25% […] More
Norges Bank
March 27, 2014
The Executive Board of Norway’s central bank chose to retain the overnight deposit rate at 1.5%, its level since cuts of 50 basis points in December 2011 and a follow-up 25 basis points in March 2012. Moreover, a released statement included forward guidance that the key interest rate will likely not be raised until the […] More
Dollar in a Holding Pattern
December 5, 2013
The dollar is unchanged from Wednesday closing levels against the euro, Swissie, kiwi and yuan. The U.S. currency has edged up 0.2% against sterling but is 0.2% lower versus the yen and 0.1% softer relative to the loonie. It has ticked 0.1% higher against the Aussie dollar, whose trade deficit in October widened more than […] More
Norwegian Central Bank Rate Left at 1.5%
June 20, 2013
Rate History: The key policy rate was slashed from 5.75% in October 2008 to 1.25% by mid-2009, then raised four times by 25 bps each between October 2009 and May 2011. From the resulting 2.25% level, the Executive Board later implemented two reductions, first by 50 bps to 1.75% in December 2011 and by 25 […] More
Norwegian Monetary Policy Remains on Hold
May 8, 2013
There hasn’t been a Norwegian interest rate change in 14 months. The 1.5% policy rate was reaffirmed after the Executive Board of Norges Bank met. Analysts were not looking for a policy change at this time. The rate was cut by 450 bps to 1.25% between October 2008 and mid-2009, raised back to 2.25% in […] More
Norges Bank Leaves Key Policy Interest Rate at 1.5% in Norway
December 19, 2012
Norges Bank in October 2009 became the first European central bank to hike its policy interest rate following the Great Recession. Thanks to cuts of 50 basis points a year ago and a further 25 bps in March 2008, however, the current 1.5% level is on net only 25 basis points above the 2009 trough […] More
