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Financial News: Norway Keeps Rate On Hold

Norway Keeps Rate On Hold

01/23/2020 - 04:17:00 (RTTNews)

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

The Monetary Policy and Financial Stability Committee of Norges Bank decided to hold the policy rate at 1.50 percent.

"The Committee's current assessment of the outlook and the balance of risks suggests that the policy rate will most likely remain at the present level in the coming period", Governor Øystein Olsen, said.

Policymakers observed that underlying inflation was close to the inflation target. Further, new information since last meeting supports the assessment that the economy is probably near a cyclical peak.

The committee viewed that interest rate prospects for the coming period are little changed since the December Report.

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