Norway's central bank held its policy interest rate at a 16-year high of 4.5% today, as unanimously expected by analysts, and postponed the prospect of a rate cut until 2025 from a previous plan to reduce borrowing costs in September this year.
Analysts were divided ahead of today's announcement over when the central bank could start to ease, with forecasts ranging from the third quarter of this year until the first quarter of 2025. "The committee was concerned with the possibility that if the policy rate is lowered prematurely, inflation could remain above target for too long," Norges Bank said.
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