Banks › Norges Bank › History › 26 Mar 2026
Norges Bank: decision of 26 March 2026
Norges Bank's Monetary and Financial Stability Committee unanimously kept the policy rate unchanged at 4%.
Decision
hold
- Rate
- 4.00%=4.00%
- Change
- 0 bp
- Vote
- unanimous
- Announced
- 10:00 Oslo time
Sources
- Statement
- norges-bank.no/en/news-events/news/Press-rel…
- Summary of deliberations and press conference
- norges-bank.no/en/topics/monetary-policy/Mon…
- Monetary Policy Report
- norges-bank.no/en/news-events/publications/M…
- Recorded
- 26 Mar 2026
- Data
- JSON
What the bank said
The Committee said inflation had been markedly higher than projected and that wage growth was now expected to be higher this year, which would likely restrain disinflation.
It said the war in the Middle East had pushed oil and gas prices up sharply, which would likely raise inflation, while a considerably stronger krone would dampen imported inflation.
It said a tighter stance was likely needed, but wanted more information because underlying pressures were hard to assess and uncertainty about energy prices was unusually high.
Guidance. The Committee said the policy rate will likely be raised at one of the forthcoming meetings, with its forecast indicating a rate of between 4¼% and 4½% by the end of the year.
“The Committee judges that a tighter monetary policy stance is needed to return inflation to target within a reasonable time horizon.”
Before and after
- Previous decision: 22 Jan 2026, held the policy rate at 4.00%.
- Next decision: 7 May 2026, raised the policy rate by 25 bp to 4.25%.
- All Norges Bank decisions and the rate history