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Key policy rate unchanged at 1.25 per cent

Norges Bank’s Executive Board decided to keep the key policy rate unchanged at 1.25 per cent.

– Inflation is now below the target of 2.5 per cent. The krone has appreciated and will, in conjunction with continued low imported inflation, contribute to keeping inflation below target in the year ahead. There is still a risk of continued low growth in the global economy for a fairly long period ahead. Key rates in many countries are close to zero and global money market rates have fallen. Hence, it is now appropriate to keep the key policy rate unchanged, says Deputy Governor Jan F. Qvigstad in the press conferernce.

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