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Norges Bank raises interest rate to 4.5 percent

Updated 14 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-29 19:56 UTC → 2026-09-30 13:06 UTC · added removed

Norges Bank has raised its policy interest rate by 0.25 percentage points, from 4.25 percent to 4.5 percent, to combat persistent inflation. Governor Ida Wolden Bache indicated that rates will likely remain high for some time to reach the inflation target by 2029. The hike has drawn criticism from SMB Norge, which argues the move is unnecessary and threatens job losses in the small business sector. The organization contends that Norges Bank may hold an overly optimistic view of the labor market, noting that regional surveys often underrepresent small enterprises, which constitute over 90 percent of Norwegian businesses. SMB Norge reports that rising interest rates, rent, and wage costs are squeezing margins for service providers, craftsmen, and local shops, thereby limiting investment and hiring capacity. The housing market is also experiencing significant pressure. Norges Bank projects annual national housing price growth of 3 percent this year, a decrease from 5.9 percent the previous year. Hilde Midsem, chief economist at Norske Boligbyggelag, highlighted a strong correlation between rates and prices, suggesting that a one percent increase in rates can lead to a ten percent drop in housing prices. Furthermore, new home sales have seen a sharp decline, with sales volumes falling 48 percent compared to 2021 levels. Following the central bank's decision, commercial Commercial lenders have begun are adjusting their own rates. rates in response to the central bank. Sbanken announced that mortgage rates for loans with 50 percent loan-to-value ratios will rise by 0.22 percentage points, while other mortgage rates will increase by 0.25 percentage points. These changes for existing loans are scheduled to take effect on December 1. Additionally, Sparebank1 Nord-Norge (SNN) announced it will raise its increase rates by up to 0.25 percentage points, following a similar move by DNB. SNN's with new terms are set to take effect on loans affected from September 30 for new loans, while and existing loans will transition to the new rate starting from November 29.

Versions

  1. 2026-09-30 13:06 UTC Norges Bank raises interest rate to 4.5 percent
  2. 2026-09-29 19:56 UTC Norges Bank raises interest rate to 4.5 percent
  3. 2026-09-29 03:54 UTC Norges Bank raises interest rate to 4.5 percent
  4. 2026-09-28 14:54 UTC Norges Bank raises interest rate to 4.5 percent
  5. 2026-09-24 17:08 UTC Norges Bank raises interest rate to 4.5 percent
  6. 2026-09-24 09:13 UTC Norges Bank raises interest rate to 4.5 percent
  7. 2026-09-22 09:40 UTC Norges Bank interest rate and economic outlook
  8. 2026-09-21 22:09 UTC Norges Bank interest rate and economic outlook
  9. 2026-09-20 14:21 UTC Norges Bank interest rate and economic outlook
  10. 2026-09-17 08:51 UTC Norges Bank interest rate and economic outlook
  11. 2026-09-15 06:40 UTC Norges Bank monetary policy and interest rate outlook
  12. 2026-09-10 07:03 UTC Norges Bank monetary policy and interest rate outlook
  13. 2026-09-06 19:32 UTC Norges Bank monetary policy and interest rate outlook
  14. 2026-09-02 06:44 UTC Norges Bank monetary policy and interest rate outlook
  15. 2026-08-13 08:32 UTC Norges Bank monetary policy decisions

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