Norges Bank raises its policy rate to 4.5 per cent to bring inflation down

23 September 2026

Norges Bank's Monetary Policy and Financial Stability Committee decided on 23 September 2026 to raise the policy rate from 4.25 per cent to 4.5 per cent.
Governor Ida Wolden Bache said inflation has been above target for several years and that by raising the policy rate the bank is helping to reduce inflation.
The Committee said it will likely be necessary to keep the policy rate elevated for a time, and that it is prepared to raise the policy rate further if needed to bring inflation down to the 2 per cent target within a reasonable time horizon.
Norges Bank is Norway's central bank and its Committee decides on the policy rate eight times a year.
The next policy rate decision is due to be announced on 5 November 2026.