The Norges Bank held its benchmark policy rate at 0.0 percent during its December 2020 meeting as widely expected, saying rates will remain low until there are clear signs that economic conditions are normalizing. Policymakers noted that higher infection rates and stricter containment measures were holding back the economic recovery, while positive news about vaccines and prospects that vaccination could begin in the very near future might result in a faster pick-up in economic activity than previously projected. Nevertheless, the central bank said it will probably take time for output and employment to return to pre-pandemic levels. Underlying inflation was still above the target, but the krone appreciation since March and prospects for low wage growth suggested that it will moderate further ahead. source: Norges Bank
Interest Rate in Norway averaged 3.92 percent from 1991 until 2020, reaching an all time high of 11 percent in September of 1992 and a record low of 0 percent in May of 2020. This page provides the latest reported value for - Norway Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Norway Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Interest Rate in Norway is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Norway to stand at 0.00 in 12 months time. In the long-term, the Norway Interest Rate is projected to trend around 0.00 percent in 2021, according to our econometric models.