Norges Bank · Policy rate
Norway · NOK · Policy rate
The Norges Bank’s Policy rate is 4.50 %, last changed on 25 Sep 2026 when it was raised by 25 bp from 4.25 %. The next scheduled decision is on .
4.50 %
- Last change
- raised +25 bp·announced 24 Sep 2026
- Previous rate
- 4.25 %
- Next decision
- Latest observation
- Source
- BIS + Norges Bank
4.50 % ·
2 Nov 20210.00 – 4.50 %2 Nov 2026
Recent decisions
| Date | Rate | Change |
|---|---|---|
| announced 24 Sep 2026 | 4.50 % | +25 bp |
| 4.25 % | hold | |
| 4.25 % | hold | |
| announced 7 May 2026 | 4.25 % | +25 bp |
| 4.00 % | hold | |
| 4.00 % | hold | |
| 4.00 % | hold | |
| 4.00 % | hold | |
| announced 18 Sep 2025 | 4.00 % | −25 bp |
Changes are dated by when they took effect; holds by the announcement day.
At a glance
- Economy
- Norway
- Currency
- NOK
- Type
- Policy rate
- Set by
- Norges Bank
- History since
- 1986
- Changes in the last 12 months
- 2
Questions and answers
- What is the current Norges Bank interest rate?
- The Norges Bank’s Policy rate is 4.50 %, last changed on 25 Sep 2026 when it was raised by 25 bp from 4.25 %.
- When did the Norges Bank last change its rate?
- On 25 Sep 2026, when the Policy rate was raised by 25 bp to 4.50 % from 4.25 %.
- What did the Norges Bank decide at its last meeting?
- On 25 Sep 2026 it raised the Policy rate by 25 bp to 4.50 %.
- When is the next Norges Bank rate decision?
- The next scheduled announcement is on 5 Nov 2026.
Decisions by year since 2018
2026net +50 bp
| Date | Rate | Change |
|---|---|---|
| announced 24 Sep 2026 | 4.50 % | +25 bp |
| 4.25 % | hold | |
| 4.25 % | hold | |
| announced 7 May 2026 | 4.25 % | +25 bp |
| 4.00 % | hold | |
| 4.00 % | hold |
2025net −50 bp
| Date | Rate | Change |
|---|---|---|
| 4.00 % | hold | |
| 4.00 % | hold | |
| announced 18 Sep 2025 | 4.00 % | −25 bp |
| 4.25 % | hold | |
| announced 19 Jun 2025 | 4.25 % | −25 bp |
| 4.50 % | hold | |
| 4.50 % | hold | |
| 4.50 % | hold |
2023net +175 bp
| Date | Rate | Change |
|---|---|---|
| 4.50 % | +25 bp | |
| 4.25 % | +25 bp | |
| 4.00 % | +25 bp | |
| 3.75 % | +50 bp | |
| 3.25 % | +25 bp | |
| 3.00 % | +25 bp |
2022net +225 bp
| Date | Rate | Change |
|---|---|---|
| 2.75 % | +25 bp | |
| 2.50 % | +25 bp | |
| 2.25 % | +50 bp | |
| 1.75 % | +50 bp | |
| 1.25 % | +50 bp | |
| 0.75 % | +25 bp |
2021net +50 bp
| Date | Rate | Change |
|---|---|---|
| 0.50 % | +25 bp | |
| 0.25 % | +25 bp |
2020net −150 bp
| Date | Rate | Change |
|---|---|---|
| 0.00 % | −25 bp | |
| 0.25 % | −125 bp |
2019net +75 bp
| Date | Rate | Change |
|---|---|---|
| 1.50 % | +25 bp | |
| 1.25 % | +25 bp | |
| 1.00 % | +25 bp |
2018net +25 bp
| Date | Rate | Change |
|---|---|---|
| 0.75 % | +25 bp |
Dates before 2021 are month precision (monthly BIS data).
Other rates in Europe
- Euro area · European Central Bank2.50 %
- United Kingdom · Bank of England3.75 %
- Switzerland · Swiss National Bank0.00 %
- Sweden · Sveriges Riksbank1.75 %
- Czechia · Czech National Bank3.75 %
- Denmark · Danmarks Nationalbank2.10 %
- Hungary · Magyar Nemzeti Bank5.50 %
- Iceland · Central Bank of Iceland8.00 %
- North Macedonia · National Bank of the Republic of North Macedonia4.25 %
- Poland · Narodowy Bank Polski3.75 %
- Romania · National Bank of Romania6.50 %
- Russia · Bank of Russia14.00 %
- Serbia · National Bank of Serbia5.75 %
- Türkiye · Central Bank of the Republic of Türkiye36.00 %
Source: BIS central bank policy rates, Norges Bank. Latest observation 30 Oct 2026. Refreshed every 30 minutes.