Norges Bank leaves its rate unchanged 0.0%, as expected; the sharp economic downturn and considerable uncertainty surrounding the outlook suggest keeping the policy rate on hold until there are clear signs that economic conditions are normalising
SourceNewsquawk
SectionOther Central Banks
- Increased Covid-19 infection rates and more containment measures abroad and in Norway will likely put a brake on the upswing in the coming period.
- So far, economic developments have largely been in line with the projections in the September Report
- House prices have risen more than projected in the September Report, while household credit growth has been as expected.
- The Norwegian economy is in the midst of a deep downturn.
- Oil prices have declined and are lower than in September.
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