The Norges Bank left its key policy rate unchanged at 0.75 percent on December 13th 2018, in line with market expectations, saying underlying inflation is close to the 2 percent target. In November, CPIF inflation rose to 2.2 percent from 1.6 percent in October and policymakers expect it to remain close to the target in the coming years. The central bank reinforced that next rate increase will 'most likely' be in March 2019, followed by gradual rises. Interest Rate in Norway averaged 4.11 percent from 1991 until 2018, reaching an all time high of 11 percent in September of 1992 and a record low of 0.50 percent in March of 2016.
Interest Rate in Norway is expected to be 0.75 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 1.00 in 12 months time. In the long-term, the Norway Interest Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.