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BREAKING: Norges Bank decides to hike rates in line with expectations!

9:00 AM 21 September 2023

Norway - Norges Bank decision on interest rates. Actual: 4.25%. Forecast: 4.25%. Earlier: 4.00%

Norges Bank will likely need to maintain a tight stance for some time ahead, sees 2025 key policy rate level at 4% vs June forecast of 3,7%. Norges Bank said it would likely hike again in December.

It maintains inflation projections at 6.3% for this year and sees slightly higher inflation in 2024 at 4.7% (previously 4.6%). 

The EURNOK is falling sharply in the face of indications of another hike this year. Interestingly, the correlation with oil has diverged somewhat.

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