FOREX TradingCharts.com

Financial News: Norway Central Bank Keeps Rate Unchanged As Expected

Norway Central Bank Keeps Rate Unchanged As Expected

09/19/2024 - 06:35:00 (RTTNews)

(RTTNews) - Norges Bank left its benchmark rate unchanged on Thursday and suggested that the policy rate will be kept at the current level until the end of this year although the time to ease is approaching.

The Monetary Policy and Financial Stability Committee, headed by Governor Ida Bache, decided to hold the policy rate at 4.50 percent.

"The policy rate will likely be kept at 4.5 percent to the end of the year," Bache said.

"We believe that there is a need to keep the policy rate at today's level for a period ahead but that the time to ease monetary policy is approaching," the governor added.

Today's policy rate forecast suggests that the interest rate will be gradually reduced from the first quarter of 2025. Although the forecast is little changed from the June report, it indicates a slightly faster fall in the policy rate through 2025.

Economic growth is expected to pick up slightly in the years ahead and inflation is projected to approach 2 percent towards the end of 2027.

Capital Economics' economist Andrew Kenningham said policymakers are likely to begin cutting rates a little sooner and he has pencilled in a first cut in December.

Further, the economist said the bank will cut rates somewhat faster than suggested by its projections next year, at a pace close to that which investors anticipate.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Producer Prices Unexpectedly Unchanged In September (01 hr(s), 40 min(s), 34 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (01 hr(s), 43 min(s), 34 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (04 hr(s), 37 min(s), 34 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (05 hr(s), 31 min(s), 34 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (05 hr(s), 52 min(s), 34 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (06 hr(s), 14 min(s), 34 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»

Dutch Exports Fall 2.1% In August (06 hr(s), 33 min(s), 34 sec(s) ago)
(RTTNews) - Exports in the Netherlands decreased in August after recovering in the previous month, ...Full Story»

Bank Of Korea Cuts Key Rate For First Time In More Than 4 Years (07 hr(s), 20 min(s), 34 sec(s) ago)
(RTTNews) - The Bank of Korea lowered its base rate for the first time in more than four years on ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Producer Prices Unexpectedly Unchanged In September

10/11/2024 - 08:37 AM (RTTNews)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story>>

India Industrial Output Shrinks 0.1% In August

10/11/2024 - 08:34 AM (RTTNews)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story>>

Turkey Retail Sales Growth Strongest In 5 Months

10/11/2024 - 05:40 AM (RTTNews)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story>>

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years

10/11/2024 - 04:46 AM (RTTNews)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story>>

UK Economy Returns To Growth

10/11/2024 - 04:25 AM (RTTNews)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.