Norges Bank Press Release

PRESS RELEASE - Norges Bank reduces interest rates, 22 January.

Norges Bank has reduced the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point to 6.00 per cent with effect from 23 January. The interest rate on banks' overnight loans will be reduced correspondingly.

Central Bank Governor Svein Gjedrem says that with an interest rate of 6.0 per cent, Norges Bank's assessment is that the probability that inflation two years ahead will be lower than 2 ½

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