Norges Bank

Press release

Norges Bank reduces interest rates

Norges Bank has reduced the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point to 6.00 per cent with effect from 23 January. The interest rate on banks' overnight loans will be reduced correspondingly.

Central Bank Governor Svein Gjedrem says that with an interest rate of 6.0 per cent, Norges Bank's assessment is that the probability that inflation two years ahead will be lower than 2½ per cent is greater than the probability that it will be higher.


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Published 22 January 2003 14:00