The executive board of Norges Bank has unanimously decided to increase the policy rate today (September 20), due to the stronger state of the Norwegian economy.
It is the first rate increase in Norway in over seven years, the last one having been implemented in May 2011. The move increases rates by 25 basis points. As a result, the key rate stands now at 0.75%, the overnight lending rate at 1.75%, and the reserve rate at –0.25%.
“Growth in the Norwegian economy has been solid since autumn 2016