The Norges Bank raised its Reserve Rate by 25bps to 0.50 percent during its September meeting, the third increase this year, saying that underlying inflation is close to the inflation target while growth in the Norwegian economy remains solid and capacity utilisation is somewhat above a normal level. Deposit Interest Rate in Norway averaged 0.06 percent from 2011 until 2019, reaching an all time high of 1.25 percent in November of 2011 and a record low of -0.50 percent in March of 2016.
Deposit Interest Rate in Norway is expected to be 0.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Deposit Interest Rate in Norway to stand at 0.25 in 12 months time. In the long-term, the Norway Reserve Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.