Discount rate

Historically, Norges Bank's discount rate was the interest rate charged to banks for rediscounting bills of exchange in the central bank, and changes in the discount rate had an impact on the general level of interest rates in Norway.

Historical overview of Norges Bank's discount rate

Norges Bank has observations for Norges Bank's discount rate in the period 1850 to 1986. The observations were recorded at the end of each month. The Excel file contains an overview of the interest rate at the end of those months in which the interest rate differs from the rate at the end of the previous month.

Before 1 January 1893, the discount rate could vary a little from one branch of Norges Bank to another. The figures in this overview apply to the Oslo branch.

Discount rate discontinued in 1987

The facility for the central bank's liquidity loans to commercial and savings banks was changed in 1986 and the discount rate ceased to be a monetary policy instrument.

Norges Bank has not set a discount rate since 1 January 1987. The Executive Board decided at the same time that the Bank would not issue a statement regarding which interest rate would replace the discount rate as a basis of regulation for private banks or in other connections.

Published 2 May 2002 07:29

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