Banks › Norges Bank › History › 18 Jun 2026
Norges Bank: decision of 18 June 2026
Norges Bank's Monetary Policy and Financial Stability Committee kept the policy rate unchanged at 4.25%.
Decision
hold
- Rate
- 4.25%=4.25%
- 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
- 18 Jun 2026
- Data
- JSON
What the bank said
The Committee said inflation was too high and that the rapid rise in business costs in recent years would help keep it elevated.
It said upward price pressure on imported goods from abroad appeared slightly stronger than projected and that wage growth expectations for 2027 had risen somewhat.
It noted that mainland growth had been slightly weaker than projected and that capacity utilisation was close to normal but drifting down.
Guidance. The Committee said it will likely be necessary to raise the policy rate further at one of the forthcoming meetings, with its forecast just above 4.5% at the end of the year.
“The Committee judges that a restrictive monetary policy stance is necessary.”
Before and after
- Previous decision: 7 May 2026, raised the policy rate by 25 bp to 4.25%.
- Next decision: 13 Aug 2026, held the policy rate at 4.25%.
- All Norges Bank decisions and the rate history