At its 20 June monetary policy meeting, Norges Bank (NB) decided to maintain the sight deposit rate unchanged at 1.50%, which was widely expected by most market analysts. The decision represents the second consecutive meeting in which the Central Bank remains on hold. Norges Bank stated that "the level of uncertainty surrounding developments in Europe is higher than it has been for some time", while growth prospects in Norway's main trading partners are "expected to be even lower than previously projected." On the domestic side, the Norwegian economy remained strong in the first half of the year. According to Governor Oystein Olsen, the sight deposit rate should remain broadly stable until the end of this year. Thereafter, the key policy rate "is projected to rise gradually towards a more normal level." The next monetary policy meeting is scheduled for 29 August.
Norway Monetary Policy
Norges Bank stays put in June
June 20, 2012
Looking for forecasts related to Monetary Policy in Norway? Download a sample report now.
Norway Economic News
October 10, 2016
In September, consumer prices climbed 0.3% from the previous month, which contrasted August’s reading (-0.5% month-on-month) but undershot market expectations of a 0.7% increase.
October 7, 2016
In August, industrial production decreased 4.7% over the previous month in seasonally-adjusted terms, which contrasted the 4.7% expansion recorded in July and marked the lowest reading since April 2015.
September 22, 2016
At its 21 September policy meeting, Norges Bank (NB) decided to leave its key policy rate at the all-time low of 0.50%, as was expected by market participants. Norges Bank noted that global growth was moderate and that in the medium term import demand from its main trading partners will be lower than previously expected.
September 9, 2016
In August, consumer prices dropped 0.5% over the previous month, which contrasted July’s reading (+0.6% month-on-month) and undershot market expectations of a 0.4% drop.
September 7, 2016
In July, industrial production expanded 5.5% over the previous month in seasonally-adjusted terms, which marked a rebound from the 4.7% fall recorded in June and represented the highest reading since October 2012.