Norway Monetary Policy

Norway

Norway: Norges Bank stays put in March

March 14, 2013

At its 14 March monetary policy meeting, Norges Bank (NB) decided to keep the sight deposit rate unchanged at 1.50%, as it was expected by most market analysts. The decision represents the sixth consecutive meeting in which the Central Bank decides to stay put.

Norges Bank acknowledged that financial conditions in international markets have continued to improve, but added that economic growth among Norway's main trading partners is expected to be lower than expected. On the domestic front, Norges Bank stressed that the Norwegian economy remains solid, albeit economic growth is falling somewhat below previous projections. In addition, house prices, which had been in the spotlight in recent months, have increased faster than anticipated. Regarding price developments, the Bank stated that inflation remains low.

According to Bank's Governor Oystein Olsen, the first increase in the key policy rate is now projected to take place in spring 2014. The next monetary policy meeting is scheduled for 8 May.


Author: Ricard Torné, Head of Economic Research

Sample Report

Looking for forecasts related to Monetary Policy in Norway? Download a sample report now.

Download

Norway Monetary Policy Chart


Norway Monetary Policy March 2013

Note: Sight Deposit Rate in %.
Source: Norway Central Bank.


Norway Economic News

  • Norway: Oil and gas output prop up growth in Q3 as economic recovery continues

    November 14, 2017

    In Q3, the economy expanded a seasonally-adjusted 0.7% from a quarter earlier, slowing markedly from the notable 1.1% growth recorded in Q2 but nonetheless confirming that the economic recovery was still firmly underway.

    Read more

  • Norway: Inflation falls in October, reverting September’s uptick

    November 10, 2017

    Consumer prices ticked up 0.1% in October, slowing considerably from September’s 0.6% increase.

    Read more

  • Norway: Industrial production contracts in September

    November 7, 2017

    According to Statistics Norway, industrial production fell by a seasonally-adjusted 0.5% from the previous month in September, contrasting August’s revised 0.5% increase (previously reported: -0.1% month-on-month). September’s result was driven by a large month-on-month decline in the extraction and related services sector—the largest industrial sector in Norway—but was moderated somewhat by growth in the manufacturing and electricity, gas and steam sectors.

    Read more

  • Norway: Inflation increases in September, reversing course

    October 10, 2017

    Consumer prices rose 0.6% month-on-month in September, contrasting August’s 0.8% decrease.

    Read more

  • Norway: Industrial production contracts in August

    October 6, 2017

    According to Statistics Norway, industrial production fell by a seasonally-adjusted 0.1% from the previous month in August, contrasting July’s revised 1.1% rise (previously reported: +0.7% month-on-month). August’s result was driven by a large month-on-month decline in the manufacturing sector, but tamed somewhat by growth in the extraction and related services sector—the largest industrial sector in Norway—and the electricity, gas and steam sector.

    Read more

More news

Search form