The Norges Bank held its benchmark interest rate at 1.25 percent during its August meeting, following a 25bps hike in June, saying that capacity utilisation in the Norwegian economy was somewhat above a normal level while underlying inflation was slightly above the 2 percent target. The bank also said that the policy rate would most likely be increased further in the course of 2019 despite deepening trade tensions and Brexit uncertainty. Interest Rate in Norway averaged 4.05 percent from 1991 until 2019, reaching an all time high of 11 percent in September of 1992 and a record low of 0.50 percent in March of 2016.
Interest Rate in Norway is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Norway to stand at 1.50 in 12 months time. In the long-term, the Norway Interest Rate is projected to trend around 1.75 percent in 2020, according to our econometric models.