The Norges Bank left its policy rate unchanged at 4% at its first meeting of 2026, as widely expected. While acknowledging elevated uncertainty, the bank said rates could be lowered later in the year if the economy evolves as projected. Policymakers stressed that a restrictive monetary stance is still warranted, as inflation remains above target. They cautioned that easing policy too quickly could allow inflation to stay elevated for an extended period. At the same time, the bank warned that maintaining an overly tight stance for too long could weigh unnecessarily on economic activity and restrain growth more than required to bring inflation back to target. The Norges Bank reaffirmed its December rate forecast, which points to one to two rate cuts in 2026, despite heightened geopolitical uncertainty. However, officials emphasized that policy remains data-dependent and that both rate cuts and hikes remain possible, depending on how the economy and inflation evolve. source: Norges Bank

The benchmark interest rate in Norway was last recorded at 4 percent. Interest Rate in Norway averaged 3.78 percent from 1991 until 2026, reaching an all time high of 11.00 percent in September of 1992 and a record low of 0.00 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 February of 2026.

The benchmark interest rate in Norway was last recorded at 4 percent. Interest Rate in Norway is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Interest Rate is projected to trend around 3.25 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-11-06 09:00 AM Norges Bank Interest Rate Decision 4% 4% 4% 4%
2025-12-18 09:00 AM Norges Bank Interest Rate Decision 4% 4% 4% 4.0%
2026-01-22 09:00 AM Norges Bank Interest Rate Decision 4% 4% 4% 4%
2026-03-26 09:00 AM Norges Bank Monetary Policy Report
2026-03-26 09:00 AM Norges Bank Interest Rate Decision 4% 4%
2026-05-07 08:00 AM Norges Bank Interest Rate Decision


Related Last Previous Unit Reference
Central Bank Balance Sheet 22013354.00 21948032.00 NOK Million Nov 2025
Deposit Interest Rate 3.00 3.00 percent Jan 2026
Interbank Rate 4.00 4.00 percent Feb 2026
Norges Bank Interest Rate 4.00 4.00 percent Jan 2026
Lending Rate 5.00 5.00 percent Jan 2026
Loan Growth YoY 4.40 3.90 percent Dec 2025
Loans to Private Sector 2090928.00 2083039.00 NOK Million Dec 2025


Norway Interest Rate
In Norway, benchmark interest rate is set by the Central Bank of Norway (Norges Bank). The official interest rate is the key policy rate, also known as sight deposit rate.
Actual Previous Highest Lowest Dates Unit Frequency
4.00 4.00 11.00 0.00 1991 - 2026 percent Daily

News Stream
Norges Bank Holds Rates, Signals Possible Cuts Later
The Norges Bank left its policy rate unchanged at 4% at its first meeting of 2026, as widely expected. While acknowledging elevated uncertainty, the bank said rates could be lowered later in the year if the economy evolves as projected. Policymakers stressed that a restrictive monetary stance is still warranted, as inflation remains above target. They cautioned that easing policy too quickly could allow inflation to stay elevated for an extended period. At the same time, the bank warned that maintaining an overly tight stance for too long could weigh unnecessarily on economic activity and restrain growth more than required to bring inflation back to target. The Norges Bank reaffirmed its December rate forecast, which points to one to two rate cuts in 2026, despite heightened geopolitical uncertainty. However, officials emphasized that policy remains data-dependent and that both rate cuts and hikes remain possible, depending on how the economy and inflation evolve.
2026-01-22
Norges Bank Keeps Interest Rate at 4%
The Norges Bank left its key policy rate unchanged at 4% for a second straight meeting in December 2025, as widely expected, and indicated it is not in a hurry to lower rates. The bank emphasized that a restrictive monetary policy remains necessary, with inflation still above target and underlying inflation hovering close to 3% for some time, while the weaker krone contributes to raising inflation prospects. Policymakers also noted that the tightening cycle has helped cool the Norwegian economy and dampen inflation in recent years. While the outlook remains uncertain, the bank reiterated that if the economy evolves broadly as expected, the policy rate is likely to be reduced further over the coming year. Rate projections are little changed from the September report, pointing to 1-2 cuts in 2026 and a gradual decline to somewhat above 3% by late 2028.
2025-12-18
Norges Bank Leaves Rates Steady as Expected
The Norges Bank kept its key policy rate unchanged at 4% in November 2025, following a 25 basis-point cut at the previous meeting, in line with market expectations. Policymakers noted that no new information has emerged to materially alter the outlook for the Norwegian economy since the last monetary policy meeting in September. While acknowledging that the outlook remains uncertain, the bank reiterated that if the economy develops broadly as projected, the policy rate is likely to be reduced further over the coming year. The central bank also emphasized that monetary policy has helped cool the Norwegian economy and curb inflation in recent years. However, inflation remains above target, with core inflation hovering around 3%, and unemployment edging slightly higher. Policymakers stressed that a restrictive stance is still warranted, as the task of bringing inflation fully under control is not yet complete, and the bank is in no rush to lower rates further.
2025-11-06