Interest rates to be left unchanged until 2017

The Norges Bank is almost certain to leave monetary policy unchanged at its meeting on 27th October. Indeed, at its last meeting in September the Bank changed the wording in its policy statement from “the key policy rate may be reduced in the course of the year” in June to “the key policy rate will most likely remain at today’slevel in the period ahead”. However, the case for further monetary easing will build next year.