At its 29 August monetary policy meeting, Norges Bank (NB) decided to keep the sight deposit rate unchanged at 1.50%, which was widely expected by most market analysts. The decision represents the third consecutive meeting in which the Central Bank decided to stay put. Norges Bank stated that "the Norwegian economy is still faring well, but inflation is low. External growth is sluggish and interest rates abroad are very low." In addition, developments among the country's main trading partners have been in line with expectations and the krone has recently appreciated slightly. According to Deputy Governor Jan Fredrik Qvigstad, and in line with June's assessment, the sight deposit rate should remain broadly stable until the end of the year. The next monetary policy meeting is scheduled for 31 October.
Norway Monetary Policy
Norges Bank remains on hold in August
August 29, 2012
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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.