The Chief of the Norwegian Central Bank, Svein Gjedrem, says inflation in Norway this year will probably be lower than the targeted 2.5 per cent, indicating another cut in interest rates this fall.
If so, it will be the seventh rate cut this year. The last cut came on 13 August, when the central bank's sight deposit rate dropped to 3 per cent. Interest rates in Norway have fallen by four percentage points since December.
Source: norwaypost
