Norges Bank Press Conference

PRESS CONFERENCE - Norges Bank's Executive Board decided today to reduce the key rate, the sight deposit rate, by 0.5 percentage point with effect from Thursday, 23 January.

The sight deposit rate will then be 6.0 per cent. According to Norges Bank's assessment, with an interest rate of 6.0 per cent, the probability that inflation two years ahead will be lower than 2 ½ per cent is greater than the probability that it will be higher.

The objective of monetary policy is low and stable inflation.