Norges Bank raises key interest rate to 0.5%

Norges Bank is raising the key interest rate by 0.25%, to 0.5%.

Norway’s central bank announced the move on Thursday morning. The key policy rate is being raised by 0.25%, to 0.5%.

The key policy rate has been at 0.25% since the interest rate meeting in December. At the time, Norges Bank signaled that it would most likely move it up a notch this December.

However, before the interest rate meeting, there was broad agreement among macroeconomists that the bank would choose to be cautious under the prevailing circumstances. 

There is a lot of uncertainty related to the impact of the omicron variant and the stricter infection control measures on the Norwegian economy.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

Do you have a news tip for Norway Today? We want to hear it. Get in touch at info@norwaytoday.no