Norges Bank raises key interest rate to 0.5%

Øystein Olsen - Norges BankPhoto: Lise Åserud / NTB

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

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