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Financial News: Norges Bank Keeps Key Rate Unchanged As Expected

Norges Bank Keeps Key Rate Unchanged As Expected

01/25/2018 - 04:52:00 (RTTNews)

(RTTNews) - Norway's central bank decided to keep its key interest rate unchanged, as widely expected, on Thursday.

The Executive Board of Norges Bank maintained its policy rate at 0.50 percent. The previous change in the rate was a quarter-point reduction in March 2016.

"The outlook and the balance of risks for the Norwegian economy do not appear to have changed substantially since the December Report," Governor Øystein Olsen, said.

The board assessed that the outlook and the balance of risks suggested that the key policy rate would remain at 0.5 percent in the period ahead.

The board noted that the upturn in the economy appears to be continuing and inflation remains low, but has moved up as expected.

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