Norwegian Key Policy Rate 4.25% vs. Exp. 4.25% (Prev. 4.25%); The Committee judges that a restrictive monetary policy is still needed but that it will likely be appropriate to continue with a cautious normalisation of the policy rate ahead

The economic outlook is uncertain, but if the economy evolves broadly as currently envisaged, the policy rate will be reduced further in the course of 2025.
If the policy rate is lowered too quickly, inflation could remain above target for too long.
On the other hand, an overly tight monetary policy stance could restrain the economy more than needed to bring inflation down to target.
If prospects suggest that wage and price inflation will remain elevated for longer than projected, a higher policy rate than envisaged in June may be required.
The overall outlook for the Norwegian economy appears to have remained broadly unchanged (since June).

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