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Policy rate unchanged at zero percent
Norges Bank’s Monetary Policy and Financial Stability Committee has unanimously decided to keep the policy rate unchanged at zero percent. “The Committee’s current assessment of the outlook and balance of risks suggests that the policy rate will most likely remain at today’s level for some time ahead”, says Governor Øystein Olsen. In Monetary Policy Report 4/20, which was published on 17 December, the policy rate forecast implied a rate at the current level for over a year ahead, followed by a gradual rise. Economic developments have so far been broadly in line with the projections in the December Report. ... (full story)