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Norway central bank holds rates at zero, hike still 2 years away

Kitco News

OSLO, Sept 24 (Reuters) - Norway’s central bank kept its key policy interest rate on hold at a record low zero percent on Thursday, as expected, and said any hike was still likely to be around two years away.

Norges Bank has slashed rates three times since March, cutting the cost of borrowing from 1.5% to cushion the economy from the effects of the COVID-19 pandemic.

Economists polled by Reuters had unanimously predicted rates would remain on hold on Thursday. (Reporting by Victoria Klesty and Terje Solsvik, editing by Gwladys Fouche)

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