The Norges Bank held its benchmark interest rate at a record low of 0.0 percent during its June meeting, and signaled that the first post-pandemic rate hike is likely to come in September. Policymakers noted that economic activity seems to be rebounding sharply and somewhat faster than projected earlier, due to the acceleration of the vaccination pace and the latest reopening efforts. At the same time, underlying inflation has slowed and is now below the 2 percent target. Officials also said low interest rates reduce the risk of unemployment becoming entrenched at a high level and help return inflation towards the target, but warned that they could also increase the risk of a build-up of financial imbalances. Looking ahead, the policy rate forecast is slightly higher than in the March 2021 Monetary Policy Report and implies a gradual rise from autumn 2021. source: Norges Bank
Interest Rate in Norway averaged 3.87 percent from 1991 until 2021, reaching an all time high of 11 percent in September of 1992 and a record low of 0 percent in May of 2020. This page provides the latest reported value for - Norway Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Norway Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
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 Interest Rate in Norway to stand at 1.00 in 12 months time. In the long-term, the Norway Interest Rate is projected to trend around 1.25 percent in 2022 and 1.75 percent in 2023, according to our econometric models.