Economists believe the possibility of rate cuts is increasing

Norges BankNorges Bank

The possibility that Norges Bank will cut interest rates in March, has increased, according to several economists. The reason is that Norway last year had the lowest GDP growth for mainland Norway since the financial crisis in 2009.

Norges Bank indicated in December  that it was slightly more likely that interest rates would be lowered in March than that they would be kept unchanged. Today’s figures increase the chance that Norges Bank will lower interest rates in March,   Kyrre Aamdal, senior economist in DNB Markets, says.
Growth in gross domestic product (GDP) for mainland Norway was at 1 percent in 2015, according to the new figures Statistics Norway (SSB) published Tuesday.
The GDP in the fourth quarter in mainland Norway increased 0.1 percent.  The growth in the third quarter was revised down to 0.

 

Source: NTB scanpic / Norway Today

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