Norway: Norway's central bank has decided to keep the policy rate unchanged at 4.5% for the ninth time in a row, an official release issued on Thursday said.

According to Anadolu Agency, Norges Bank Governor Ida Wolden Bache stated that the policy rate is likely to be reduced in March. The central bank initially raised the policy rate in autumn 2021 as a measure to counter high inflation, maintaining it at 4.5% since December 2023.

The bank emphasized that the interest rate has played a role in cooling down the Norwegian economy and dampening inflation. However, it noted that unemployment has slightly increased from a previously low level. Additionally, while inflation has moved closer to the target, the rapid rise in business costs could potentially contribute to rising inflation in the future.