Financial News: Norway Central Bank Holds Key Rate; Signals Rate

Norway Central Bank Holds Key Rate; Signals Rate Hike

03/26/2026 - 06:25:00 (RTTNews)

(RTTNews) - Norway's central bank left its benchmark interest rate unchanged on Thursday but signaled future hike to tackle rising inflation fueled by the Middle East conflict.

The Monetary and Financial Stability Committee of Norges Bank decided to hold the policy rate at 4.00 percent.

The bank had reduced the rate by 25 basis points each in September and June. The reduction in June 2025 was the first in five years.

"Uncertainty is greater than normal due to the war in the Middle East, but the Committee judges that it will likely be necessary to raise the policy rate at one of the forthcoming monetary policy meetings", Governor Ida Wolden Bache said.

The policy rate forecast has been revised up since December and indicates an increase in the policy rate to between 4.25 percent and 4.5 percent by the end of this year.

Policymakers observed that the unexpected high inflation in recent months makes it difficult to assess underlying inflation pressures, and the uncertainty surrounding oil and gas prices is unusually elevated. Therefore, members wanted to wait for further information regarding inflation prospects.

The committee also said that the future path of the policy rate will depend on economic developments.

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