Norges Bank governor says new hike rate ‘likely’ in June

Norges Bank HQ, Oslo
Espen Schive

The executive board of Norges Bank indicated today (May 9) that it intends to raise interest rates in June.

“The outlook and balance of risks suggests that the policy rate will most likely be raised in June,” said the Norwegian governor Øystein Olsen after the central bank’s monetary policy meeting. The monetary policy committee left the main policy rate at 1%, the overnight lending rate at 2%, and the reserve rate at 0%.

The institution initiated its tightening cycle in September 2018, when

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