Banks › Norges Bank › History › 7 May 2026
Norges Bank: decision of 7 May 2026
Norges Bank's Monetary Policy and Financial Stability Committee unanimously raised the policy rate by 0.25 percentage point to 4.25%.
Decision
raise
- Rate
- 4.00%↑4.25%
- Change
- +25 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…
- Recorded
- 7 May 2026
- Data
- JSON
What the bank said
The Committee said inflation was too high and had been above target for several years, with CPI inflation at 3.6% and CPI-ATE at 3% in March.
It said external price pressures appeared slightly stronger than expected in March, while the wage norm was close to its projection and the krone was stronger than assumed.
It judged that the outlook had not changed materially since March and that a higher policy rate was needed to return inflation to target within a reasonable time.
Guidance. The Committee said the policy rate path may differ from its March forecast, which indicated 4¼% to 4½% by year-end, if the economy takes a different path than envisaged.
“The Committee judges that a higher policy rate is needed to return inflation to target within a reasonable time horizon.”
Before and after
- Previous decision: 26 Mar 2026, held the policy rate at 4.00%.
- Next decision: 18 Jun 2026, held the policy rate at 4.25%.
- All Norges Bank decisions and the rate history