Norges Bank raises policy rate to 4.50%

24 September 2026

Norway's central bank, Norges Bank, published on 24 September 2026 its decision to raise the policy rate from 4.25% to 4.50%, taken by its Monetary Policy and Financial Stability Committee at a meeting on 23 September. The new rate is effective from 25 September 2026. Governor Ida Wolden Bache said inflation has been above target for several years and that the Committee is prepared to raise the rate further if needed to bring inflation down to the 2% target. CPI inflation has been higher than projected, while underlying inflation measured by the CPI-ATE has been lower than projected. The Committee cited uncertainty from the conflict in the Middle East and higher oil, gas and commodity prices. The next decision will be published on 5 November.