Press release

Key policy rate unchanged at 0.50 percent

Norges Bank's Executive Board has decided to keep the key policy rate unchanged at 0.50 percent.

On the whole, developments since March have not deviated substantially from the projections in the March 2016 Monetary Policy Report. Consumer price inflation remains elevated, but a stronger krone may contribute to a slightly more rapid decrease in inflation than projected in March. On the other hand, the rise in oil prices may reduce uncertainty and contribute to somewhat higher growth in the Norwegian economy.

"An overall assessment of new information indicates that the key policy rate should be kept unchanged at this meeting", says Governor Øystein Olsen.

Background material and charts

For more information, please contact:
Ms. Therese Riiser Wålen, Head of Communications and External Relations
Tel: +47 94 05 08 86
E-mail: presse@norges-bank.no

Published 12 May 2016 10:00
Press conference 12 May 2016 (in Norwegian)