Norges Bank

Press release

Norges Bank raises the deposit rate and overnight lending rate

Norges Bank has decided to increase the interest rate on banks’ deposits with Norges Bank, the deposit rate, by 0.25 percentage point with effect from Thursday 21 September. The interest on central bank overnight loans to banks will also be increased by 0.25 percentage point. The deposit rate and overnight lending rate will hence be 7.00 per cent and 9.00 per cent respectively.

Central Bank Governor Svein Gjedrem says that in the light of recent trends in the economy and the current balance of risks, the probability that the next change in interest rates will be a reduction is the same as the probability of an increase.

A more detailed assessment will be provided at today’s press conference at 2 pm at Kirkegt. 6. The Governor’s introductory statement will be published simultaneously on the Norges Bank website.



Press telephone: +47 21 49 09 30

Published 20 September 2000 14:00