Central Bank Maintains Key Interest Rate
News: On March 27 2014, the central bank of Norway maintained its key interest rates at 1.5%. The central bank predicts that growth, excluding the offshore oil and gas sector, would fall to 1.75% in 2014, before rising to 2.5% in 2015. In 2013, the Norwegian economy suffered unexpected instability as housing prices fell, consumption weakened and oil investment growth slowed. The Norges Bank also estimates its key policy rate to average 1.5% in 2014 and 1.75% in 2015, while it expects the unemployment rate to reach 3.75% in 2014 and 4% in 2015.