Central bank raises interest rates

Interest rates rose another quarter-point on Thursday, after Norway’s central bank decided that it was time to gently step on the country’s economic brakes. Norges Bank‘s governor, Øystein Olsen, also warned that another interest rate hike looms later this year. “Our current assessment of the outlook and balance of risks suggests that the policy rate […]

Interest rates rise on a strong economy

Norges Bank raised its key policy rate on Thursday in a move that was widely expected but also debated. Norway’s central bank board ultimately decided that economic growth is stronger than expected, and the country’s currency immediately strengthened on the news. The quarter-point rate rise to 1 percent was modest and at least may cheer […]

Prospects bright for Norway’s economy

Norwegian economists agree that New Year prospects are bright for the country’s economy in 2019. They predict economic growth of 2 percent, low interest rates, lots of activity in the oil and oil service sectors and even a “perfect” real estate market. “Oil investments will shoot up, and that yields positive impulses for the rest […]

Economists relieved as rates stay low

Economists had warned against any increase in Norwegian interest rates right now, and the country’s central bank may well have taken note. Its governor and board decided on Thursday to keep Norges Bank’s policy rate unchanged at just 0.75 percent, opting to delay an increase until the spring. “Our current assessment of the outlook and […]

DNB raises its mortage rates

Norway’s biggest bank, DNB, didn’t waste any time in raising interest rates on its home loans. It became the first Norwegian bank on Friday to warn customers that rates would rise by a quarter-point from November 4. DNB’s increase comes just a day after Norway’s central bank announced the same increase in its key policy rate. […]

Interest rates begin to creep upwards

The executive board of Norway’s central bank cautiously raised interest rates on Thursday for the first time in seven-and-a-half years, but not as much as predicted. An increase was widely expected and even viewed as good news because it’s a sign of renewed strength in the Norwegian economy, while some economists question whether the rise […]

Rates kept stable as growth slows

Norway’s central bank (Norges Bank) opted against raising interest rates on Thursday, while economists warned of weaker economic growth and “deep concern” about US President Donald Trump’s trade wars. A rise in interest rates still looms in September. The central bank’s executive board stated that the current “upturn” in the Norwegian economy that began when […]

Weaker ‘krone’ due to strengthen

Norway’s krone has been losing value against the US dollar during the past week, at odds with predictions earlier this summer. Analysts now blame uncertainty generated by US President Donald Trump’s trade wars, a stronger dollar and the summer holidays. One US dollar cost NOK 8.23 on Wednesday afternoon, compared to just NOK 6 and […]

Krone expected to rise against dollar

Norway’s central bank refrained once again from raising interest rates on Thursday but now states that it’s “likely” to do so in September. That in turn can boost the value of the country’s currency, the krone, which already is expected to strengthen significantly against the US dollar next year. Newspaper Dagens Næringsliv (DN) was even […]

No rise in interest rates, for now

Norwegians with big mortgages could breathe another sigh of relief on Thursday, after the country‘s central bank board refrained once again from raising interest rates. Rates are still expected to rise later this year, but Norges Bank’s Executive Board decided to keep its key policy rate at 0.50 percent unchanged for now. “The outlook and […]