FOREX TradingCharts.com

Financial News: Norway Keeps Interest Rate On Hold

Norway Keeps Interest Rate On Hold

01/25/2024 - 05:09:00 (RTTNews)

(RTTNews) - Norway's central bank left its key interest rate unchanged on Thursday and signaled that the rate is likely to be kept at the current level for some time ahead.

The Monetary Policy and Financial Stability Committee of the Norges Bank unanimously decided to maintain the policy rate at 4.50 percent.

"Based on the Committee's current assessment of the outlook and the balance of risks, the policy rate will likely be kept at that level for some time ahead," the bank said.

The policy rate is sufficiently high to return inflation to target within a reasonable time horizon, said Governor Ida Wolden Bache. The policy is having a tightening effect and the economy is cooling down.

Policymakers noted that the rise in business costs, high wage growth and the krone depreciation through 2023 is set to restrain disinflation. Accordingly, the policy needs to be tight for some time ahead.

"When inflation falls back and economic conditions so warrant, the Committee can start lowering the policy rate", the bank said.

Capital Economics' economist Jack Allen-Reynolds said the bank is set to stand pat for the next few meetings as policymakers wait to see a clear and consistent downward trend in core inflation.

The economist said he pencilled in the first cut for May, but the risks are skewed towards a later move.

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


German Ifo Business Morale Rises Slightly (06 hr(s), 44 min(s), 16 sec(s) ago)
(RTTNews) - Sentiment among German companies rose moderately in February due to less pessimism reg ...Full Story»

Poland Jobless Rate Rises To 5.4%, Highest In 10 Months (07 hr(s), 41 min(s), 16 sec(s) ago)
(RTTNews) - The unemployment rate in Poland increased further in January to the highest level in n ...Full Story»

German Economy Shrinks On Weak Investment (08 hr(s), 28 min(s), 16 sec(s) ago)
(RTTNews) - The German economy contracted at the end of the year on weaker investment, revised dat ...Full Story»

German Business Confidence Improves Slightly - Ifo (08 hr(s), 45 min(s), 16 sec(s) ago)
(RTTNews) - Business confidence in Germany strengthened modestly in February due to less pessimism ...Full Story»

Hungary Jobless Rate Rises To 4.6% (09 hr(s), 11 min(s), 16 sec(s) ago)
(RTTNews) - Hungary's unemployment rate increased somewhat during the November-January period, ...Full Story»

Czech Economic Confidence Weakens To 8-Month Low (10 hr(s), 09 min(s), 16 sec(s) ago)
(RTTNews) - The Czech economic confidence index declined for the second straight month in February ...Full Story»

Malaysia Inflation Steady At 1.5% (10 hr(s), 38 min(s), 16 sec(s) ago)
(RTTNews) - Malaysia's consumer price inflation remained stable for the second straight month ...Full Story»

German GDP Contracts As Estimated In Q4 (11 hr(s), 06 min(s), 16 sec(s) ago)
(RTTNews) - The German economy contracted as estimated in the fourth quarter on weaker investment, ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

German Ifo Business Morale Rises Slightly

02/23/2024 - 06:48 AM (RTTNews)
(RTTNews) - Sentiment among German companies rose moderately in February due to less pessimism reg ...Full Story>>

Poland Jobless Rate Rises To 5.4%, Highest In 10 Months

02/23/2024 - 05:51 AM (RTTNews)
(RTTNews) - The unemployment rate in Poland increased further in January to the highest level in n ...Full Story>>

German Economy Shrinks On Weak Investment

02/23/2024 - 05:04 AM (RTTNews)
(RTTNews) - The German economy contracted at the end of the year on weaker investment, revised dat ...Full Story>>

German Business Confidence Improves Slightly - Ifo

02/23/2024 - 04:47 AM (RTTNews)
(RTTNews) - Business confidence in Germany strengthened modestly in February due to less pessimism ...Full Story>>

Hungary Jobless Rate Rises To 4.6%

02/23/2024 - 04:21 AM (RTTNews)
(RTTNews) - Hungary's unemployment rate increased somewhat during the November-January period, ...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.