Norges Bank Rate Decision September 2026

Norges Bank’s Monetary Policy and Financial Stability Committee announces its September policy rate decision on Thursday, September 24, 2026, at 4:00 am ET (9:00 am London time, 10:00 am CEST in Oslo). The current policy rate stands at 4.25%, and the decision will be published alongside Monetary Policy Report 3/26, Norges Bank’s quarterly set of economic forecasts. Full schedule and background: Norges Bank rate decisions.

What is the Norges Bank Monetary Policy and Financial Stability Committee and what does it decide?

The Monetary Policy and Financial Stability Committee is the body inside Norges Bank, Norway’s central bank, that sets the policy rate, the interest rate at which banks can place overnight deposits with the central bank. Its mandate is to keep inflation low and stable, close to a target of 2% over time, while also supporting high employment and financial stability. The committee has five members, including the Governor, who currently is Ida Wolden Bache, and its decisions are taken by majority vote, though most recent decisions have been unanimous.

The committee meets eight times a year to decide on the policy rate. Four of these meetings, including September’s, are accompanied by a full Monetary Policy Report containing updated forecasts for growth, inflation, unemployment and the expected path of the policy rate over the following two to three years. A press conference follows each decision, giving the Governor the chance to explain the reasoning behind the vote and answer questions from journalists.

When is the September Norges Bank decision announced?

The rate decision is due at 10:00 am CEST (4:00 am ET, 9:00 am London time) on September 24, 2026. It will be published together with Monetary Policy Report 3/26, which sets out the committee’s updated policy rate forecast, known as the policy rate path. A press conference with Governor Ida Wolden Bache typically follows around 30 to 45 minutes after the written statement, usually broadcast in Norwegian with an accompanying introductory statement published in English. A summary of the committee’s deliberations is also released, giving more detail on the internal debate than the short policy statement alone.

What to expect

Norges Bank raised its policy rate from 4% to 4.25% at its May 2026 meeting, and has held it unchanged at 4.25% at both the June and August 2026 meetings. According to the bank’s own account of the August meeting, inflation had slowed and come in lower than projected over the summer, even as the committee had earlier flagged the possibility that a somewhat tighter policy stance might still be needed, according to Norges Bank’s August 2026 rate decision statement. The June 2026 Monetary Policy Report had pointed to a policy rate forecast just above 4.5% by the end of the year, according to Norges Bank’s Monetary Policy Report 2/2026, though the cooler summer inflation data has left room for debate over whether that path still holds. A consensus forecast from a major poll provider has not yet been published for the September meeting at the time of writing.

Market impact scenarios

What will the statement and press conference signal?

Investors and analysts will focus on the updated policy rate path in Monetary Policy Report 3/26 to see whether the roughly 4.5% end-year projection from June has been revised down in light of the cooler summer inflation figures. Any language about the balance of risks between persistent cost pressures and a softening labour market will be scrutinised for hints about the pace and timing of further cuts or holds into 2027. Dissent within the five-member committee has been rare in 2026, so a split vote would itself be treated as a meaningful signal. The Governor’s introductory statement at the press conference usually gives the clearest steer on how the committee weighs these competing risks.

What It Means for Your Money

For Norwegian households, the policy rate directly affects mortgage rates, since most Norwegian mortgages track the policy rate closely, and any change feeds through to monthly repayments within weeks. A hold keeps existing mortgage costs stable, a cut would ease pressure on borrowers, and a hike would push repayments higher. Savers with Norwegian bank accounts see the same relationship in reverse: higher rates mean better returns on cash deposits, lower rates mean less interest earned.

Beyond Norway, the decision matters for currency markets. The Norwegian krone tends to strengthen when Norges Bank holds rates higher for longer relative to other central banks, and weaken when it signals cuts, affecting the cost of Norwegian imports and the value of Norwegian assets held by UK, eurozone or US investors. Norway’s oil-linked economy also means its rate path is sometimes watched as a read on how commodity-exposed economies are handling inflation, which can inform expectations for the European Central Bank and the Bank of England, both of which are also managing the trade-off between inflation and growth. For pension funds and investors with exposure to Norwegian equities, bonds or the krone, the rate path shapes expected returns, while global investors watching for divergence between Norges Bank, the Federal Reserve and the ECB may use the decision to gauge the wider direction of developed-market monetary policy.

Related events

• The previous Norges Bank decision was announced on August 12, 2026, when the rate was held at 4.25%.
• The next scheduled Norges Bank decision follows the eight-meetings-a-year calendar; check the Norges Bank rate decisions hub for the confirmed date.
• Norwegian and eurozone inflation and labour market data released in the weeks before the meeting typically shape the committee’s updated forecasts in Monetary Policy Report 3/26.

Frequently Asked Questions

What time is the Norges Bank decision announced?

The decision is due at 10:00 am CEST in Oslo on September 24, 2026, which is 4:00 am ET and 9:00 am London time.

Will Norges Bank cut interest rates in September 2026?

It is not possible to predict the outcome. Norges Bank held its rate at 4.25% at both the June and August 2026 meetings after raising it from 4% in May, and a consensus forecast for September has not yet been published.

What is the current Norges Bank policy rate?

The policy rate has stood at 4.25% since the May 2026 meeting, held unchanged at both subsequent meetings in June and August 2026.

When is the next Norges Bank meeting after September?

Norges Bank’s committee meets eight times a year; the confirmed date for the next meeting after September 2026 can be found on the Norges Bank rate decisions hub.

Where can I watch the Norges Bank press conference?

Norges Bank publishes the statement, Monetary Policy Report and an English introductory statement from the Governor on its official website, with the press conference itself typically broadcast in Norwegian.