The Norges Bank will release a new rate decision as early as Thursday this week, but it will likely not change the rate at that time. However, a Norwegian interest rate hike is imminent in September.
The Reserve Bank of New Zealand keeps the interest rate unchanged at 0.25 per cent due to the new closure of the country as a result of Corona.
There was widespread expectation that the country would be the first to raise interest rates among the G10 currencies, which are the most traded currencies in the world and include the British pound, the euro, the Japanese yen, the Swiss franc, and the dollar (from the United States, Canada, Australia and New Zealand), as well as the Norwegian and Swedish krona.
Thus, Norway could be the first, if Central Bank Governor Oestin Olsen follows the plan from June and rises from zero to 0.25 percent in September.
The next interest rate decision from the Bank of Norway will be released on Thursday, but economists here believe the message from June will be largely repeated.
But globally, several countries have already raised interest rates after the pandemic, including Mexico, Brazil, Russia, Hungary and the Czech Republic, according to Reuters.
The Bank of Norway announced a possible interest rate hike in September
Read on E24 +
The different country Norway: That’s why we want to raise interest rates first
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