Policy rate
Norges Bank’s most important tool for keeping inflation low and stable
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Policy rate
4.5%
Published 23.01.2025
The policy rate is set with the objective of low and stable inflation
- When Norges Bank makes policy rate decisions, the primary objective is ensuring low and stable inflation but also keeping employment as high as possible.
- A five-member committee sets the policy rate – Norges Bank’s Monetary Policy and Financial Stability Committee.
- The Committee makes decisions on whether to change the policy rate eight times a year. These decisions are made at monetary policy meetings.
- Read more about how the policy rate is set
Developments in the policy rate
The policy rate forecast
What is Norges Bank’s forecast for the policy rate?
Norges Bank regularly prepares a forecast, or plan, for the policy rate over the next 2-3 years. The forecast is also called the policy rate path and is published four times a year when the Bank presents its Monetary Policy Report. Updated forecasts are included in the most recent Monetary Policy Report.