Norges Bank

Press release

Norges Bank keeps interest rates unchanged

Interest rates were left unchanged at Norges Bank’s Executive Board meeting on 7 August 2002. Norges Bank’s key interest rate, the sight deposit rate, therefore remains at 7.0 per cent. The overnight lending rate also remains unchanged.

Central Bank Governor Svein Gjedrem says that according to Norges Bank’s assessment, with an unchanged interest rate, the probability that inflation two years ahead will be higher than 2½ per cent is greater than the probability that it will be lower.


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Published 7 August 2002 14:00