the Case is updated.
It was in advance broad agreement among analysts that the Norges Bank did not come to touch the key rate this time. The experts, among them the central bureau of Statistics, think that rentebunnen is reached, but that Norges Bank will not change interest rates until 2019.
– So we are now considering the prospect, the key policy rate should most likely remain at the current level in the near future, ” says governor Øystein Olsen after the interest rate decision on Thursday.
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the Housing market weighs heavily
the key rate will probably remain at this level for the next few years, shows the analysis. At the same time there is a greater probability that the interest rate is set down than up next year.
Developments in the housing market and increased debt growth is the central factor that lies behind the decision. A lower key policy rate now will increase the risk that the growth in house prices and debt will shoot further speed. Therefore, there is much that speaks for to go carefully forward in the rentesettingen, write the Norges Bank in its comment.
– the central bank’s decision to freeze the interest rate is good for the housing market, because the regional differences are so extreme, says ceo of Norwegian real estate agents, Carl O. Geving. He believes an unchanged market rate over a longer time will be important to stabilize the markets.
READ ALSO: Rentefesten continue probably for many years
Slow recovery
Norges Bank notes that the key rate among trading partners have risen since september, and oil prices are somewhat higher than expected. The crown has strengthened more than what was assumed.
Norges Bank believes that inflation will be lower than estimated and that the activity in the Norwegian economy will spend more time picking up than previously expected.
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