Norges Bank keeps rates at 4% as expected

(Sharecast News) - Norway's central bank kept interest rates unchanged at 4% on Thursday, as widely expected. Norges Bank said in a statement: "The Committee's assessment is that no new information has come in that indicates a material change to the outlook for the Norwegian economy since the monetary policy meeting in September.

"The outlook is uncertain, but if the economy evolves broadly as currently envisaged, the policy rate will be reduced further in the course of the coming year."

Governor Ida Wolden Bache said the job of tackling inflation "has not been fully completed, and we are not in a hurry to reduce the policy rate".

Norges Bank has cut rates twice this year, by 25 points to 4.25% in June and then again to 4% in September.