The central bank of Norway left its key policy rate steady at 0.75 percent on January 24th 2019, in line with market expectations. Policymakers said that the outlook and the balance of risks imply a gradual increase in the policy rate. Global growth is a little weaker than projected, and there continues to be considerable uncertainty surrounding developments ahead. In Norway, economic growth and labour market developments appear to be broadly as projected, while inflation has been slightly higher than expected. The central bank reinforced the policy rate would most likely be raised in March 2019. Interest Rate in Norway averaged 4.09 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 1.00 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 1.50 percent in 2020, according to our econometric models.