The Norges Bank decided to keep its policy rate unchanged at 4.5% at its meeting on Thursday. The committee also indicated that it will likely be the rate until the end of the year. However, “time to ease monetary policy is approaching,

Norway's central bank held its policy interest rate unchanged at a 16-year high of 4.50% on Thursday, as widely expected, and said any cuts must wait until the first quarter of next year, boosting the crown currency.

Norway's central bank will keep its key policy interest rate unchanged this week at a 16-year high of 4.50%, all 27 economists in a Reuters poll said, as investors look for signs of when Norges Bank may eventually begin to cut borrowing costs.