Norway

Mildly restrictive

Policy rate

4.25%

Last move May 2026

Inflation

3.06%

As of null

Real policy rate

1.19%

Policy rate less inflation

Debt to GDP

42.90%

2026 est.

Inflation target2%

Policy rate vs target—

Last move+25 bps hike

Months at current rate—

Real GDP growth1.50%

Next scheduled decisionNov 5, 2026

Policy rate path, latest five years.

The verdict

Norway sets its policy rate at 4.25%, against inflation of 3.06% — a real rate of 1.19% after inflation. The most recent decision was a 25bp hike in May 2026. The bank targets 2% inflation, and prices are running above that at 3.06%. On the fiscal side, the economy carries government debt of 42.9% of GDP (2026 est.) and real GDP growth of 1.5%.

Sources: policy rate and cycle history — BIS central bank policy rates (WS_CBPOL); inflation — national statistical agencies; debt and growth — IMF World Economic Outlook. Methodology: https://www.globalfinancialinfo.info/methodology/policy-rates · Dataset: https://www.globalfinancialinfo.info/global-economy · Free to print and share for non-commercial classroom use (CC BY-NC-ND 4.0).

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