Norway keeps interest rates unchanged, signals only one cut in 2024

(Sharecast News) - Norway's central bank kept its main interest rate unchanged, as expected, but indicated it would only make one cut this year.

The benchmark interest rate was unchanged at 4.50%.

"The current forecast indicates that the policy rate will continue to lie at 4.5% in the period to autumn before gradually moving down," the bank said in a statement.

It also raised its forecast for economic growth to 0.5% for 2024, up from a 0.1% expansion seen in December. The 2025 estimate was held at 1.2%.

Reporting by Frank Prenesti for Sharecast.com