Oslo (dpa) – Norway’s central bank Thursday said its benchmark interest rate was to remain unchanged at 1.50 per cent, citing low domestic inflation and low global interest rates.
The interest rate was lowered to its current level a year ago.
”Both inflation and growth in the Norwegian economy have been slightly lower than projected,” Norges Bank governor Oystein Olsen said.
The central bank said growth among Norway’s trading partners was weak while unemployment in Norway was low.
Olsen said it was likely the interest rate would remain at the current level until next spring.
Norway is not a member of the European Union.