Norges Bank

Press release

Norges Bank reduces interest rates

Norges Bank decided to reduce the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.5 percentage point to 2.50 per cent, with effect from 18 September. The interest rate on banks' overnight loans will also be reduced by 0.5 percentage point.

Central Bank Governor Svein Gjedrem says that with an interest rate of 2.50 per cent, Norges Bank's assessment is that the probability that inflation two years ahead will be higher than 2½ per cent is the same as the probability that it will be lower.


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Published 17 September 2003 14:00