MNI BRIEF: Norges Bank Holds, No Change Likely In Dec Either
MNI (LONDON) - NorgesBank left its policy rate on hold at 4.5% at its November meeting and said that the rate was likely to remain unchanged through to the end of the year.
The Norwegian central bank's guidance back in Spetember was for the rate likely to be "gradually reduced from 2025 Q1" and it stuck with this guidance in November.
In its policy update it noted that inflation had come in a little lower than it had projected and that economic growth had been low throughout this year. On the other hand since Septmber the krone has depreciated slightly and was slightly weaker than the central bank had assumed. The Norges Bank said that the outlook for the Norwegian economy had not changed materially since September and that policy needed to remain restrictive.