Borrowers had hoped for an interest rate decline on Thursday, but Norway’s central bank opted against making any changes in its policy rate. It will remain at 4 percent until there are more signs that inflation is easing.

“The job of tackling inflation has not been fully completed,” said Norges Bank’s Governor Ida Wolden Bache, “and we are not in a hurry to reduce the policy rate.”

Nor had the central bank’s committee on monetary policy and financial stability received any new information regarding any material changes to the outlook for the Norwegian economy. Bache didn’t dash all hopes for lower rates, though.

“The outlook is uncertain,” she said, “but if the economy evolves broadly as currently envisaged, the policy rate will be reduced further in the course of the coming year.”

NewsinEnglish.no staff