Policy rate unchanged at zero percent

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Policy rate unchanged at zero percent


Category: Business News

Norges Bank’s Monetary Policy and Financial Stability Committee has unanimously decided to keep the policy rate unchanged at zero percent.

In Monetary Policy Report 1/21, which was published on 18 March, the policy rate forecast indicated a gradual rise from the latter half of 2021.

Economic developments have been largely in line with the projections in the March Report. Activity has picked up since spring 2020, but in recent months, stricter containment measures have restrained the recovery, and the number of furloughed workers has risen. Recently, infection rates have fallen back. The first phase of the Government’s plan for the reopening of society has been implemented, and much of the adult population in Norway is expected to be vaccinated by the end of summer. This suggests that economic activity will pick up through the year.

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Source: Norges Bank

Published: May 6, 2021