Looking for a specific product?

Make a search for products & suppliers, articles & news.

Key policy rate unchanged

As predicted by most analysts, the Norwegian Central Bank's Executive Board decided to keep the key policy rate unchanged at 1.5 percent.

"The key policy rate is being kept at a low level because inflation is low and global interest rates are at very low levels," says Governor Øystein Olsen.

Olsen pointed to the following, after Wednesday's meeting:

Growth among Norway's trading partners is weak and the uncertainty surrounding developments in the international economy is elevated. Measures by a number of central banks have, nevertheless, contributed to easing financial market tensions recently.

Growth in the Norwegian economy is solid and capacity utilisation is somewhat higher than normal. The krone has appreciated. Lower premiums in money and bond markets have reduced banks' funding costs. At the same time, interest rates on banks' loans to households and enterprises have remained unchanged.

"Developments in the Norwegian economy give reason to believe that inflation will gradually pick up. The analyses in this Report suggest that the key policy rate should be kept at today's level into next year, followed by a gradual increase towards a more normal level. The forecast for the key policy rate in 2013 is slightly lower than the June forecast," says the Governor.

At the meeting, the Executive Board decided that the key policy rate should be in the interval 1% – 2% until the publication of the next Report on 14 March 2013, unless the Norwegian economy is exposed to new major shocks.

Related news

Latest news

Vestdavit agrees dive boat cooperation with Hukkelberg

Opportunities in the offshore market are resurfacing after a long dry spell,

PLAR-4000 plays role in NZ seamanship excellence

The relationship between Vestdavit and Australian-headquartered Antelope Engineering extends back to 2000,

To meet the special duties envisaged,

The PL-3600R davit is equipped with shock absorbers,

Olympic Commander keeps Vestdavit alongside for Med rescue mission

To meet the special duties envisaged,

New After Sales Director on-board

Henric will take responsibility for building up strong,

MAINTENANCE CONTRACT WITH STATOIL TJELDBERGODDEN

Beerenberg has entered into a 7-year contract for ISO and other supporting services at Statoil’s Tjeldbergodden facilities. The contract is running from 1 January 2018.

DNV GL: Standardisation can help enable the digital transformation of shipping

DNV GL’s new position paper focuses on the collection of ship sensor data, 

Industry's preferred pipeline standard gets update by DNV GL

A number of requirements related to linepipe fabrication,

Servogear Hybrid CPP for the World’s First Hybrid Catamarans in Commercial Traffic

Norled AS is one of Norway’s largest ferry and express boat operators.