The Norges Bank held its benchmark interest rate at an all-time low of 0% on June 18th 2020, as widely expected. Policymakers noted that the coronavirus pandemic hit hard the economy, still activity has picked up faster than expected since the last meeting. The Committee said that there is considerable uncertainty surrounding the path to recovery. Policymakers added that low interest rates are contributing to accelerating the return to more normal employment and output levels. The Committee said that the current assessment of the outlook and balance of risks suggests that the policy rate will most likely remain at the current level for some time ahead.
Interest Rate in Norway averaged 3.99 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 June of 2020. source: Norges Bank
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 0.75 percent in 2021 and 1.00 percent in 2022, according to our econometric models.