Norway keeps interest rates unchanged, signals only one cut in 2024

Norway's central bank kept its main interest rate unchanged, as expected, but indicated it would only make one cut this year.

The benchmark interest rate was unchanged at 4.50%.

"The current forecast indicates that the policy rate will continue to lie at 4.5% in the period to autumn before gradually moving down," the bank said in a statement.

It also raised its forecast for economic growth to 0.5% for 2024, up from a 0.1% expansion seen in December. The 2025 estimate was held at 1.2%.

Reporting by Frank Prenesti for Sharecast.com