Europe · Business news · Economy · 24 Sept 2026
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Norges Bank's Monetary Policy and Financial Stability Committee decided at its 23 September meeting to raise the policy rate from 4.25% to 4.50%, judging that a somewhat tighter stance is needed to return inflation to target within a reasonable horizon. Consumer price inflation was 3.3% in August, lifted by energy, while the underlying CPI-ATE measure was 3.0% and had come in lower than the bank projected in June. Governor Ida Wolden Bache said inflation had been above target for several years, that the rate would probably need to stay elevated for a time, and that the committee was prepared to raise it further if needed.
Most Norwegian mortgages are floating-rate, so a policy move reaches households quickly. Oslo-listed banks such as DNB and SpareBank 1 groups are exposed through lending margins and loan losses; property companies and housebuilders through financing costs and housing demand; and consumer-facing companies through disposable income. A higher Norwegian rate also bears on the krone, which changes the kroner value of export earnings for energy, seafood and shipping groups. Norway's rate is now well above the euro area's 2.5% deposit rate and Sweden's 1.75%.
Reported by Norges Bank — “Rate decision September 2026” ↗ on 24 Sept 2026.
Official series on 24 Sept 2026 or the last day before it, and the latest observation.
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