Norges Bank holds rates due to Covid fears

Norges Bank HQ, Oslo
Norges Bank
Photo: Espen Schive

Norway’s central bank left rates unchanged at 0% today (November 5), as it warned higher Covid-19 infection rates are likely to slow down economic recovery.

Norges Bank’s committee on monetary policy and financial stability said “the key policy rate would remain at the current level for the next couple of years and then gradually increase”. Norway’s economy “is in a sharp downturn”, it said.

Although it is recovering from the acute recession it recorded during the spring it is still below the

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