The executive board of Norway’s central bank held rates at the end of its policy meeting on August 16. Inflation remains below the bank’s 2% target despite an upward trend in prices, the Norges Bank board said.

The key policy rate remains at 0.5%, the overnight lending rate at 1.5% and the reserve rate at –0.5%. Interest rates in Norway have stayed at these levels since March 17, 2016, when the central bank cut the three rates by 25 basis points.

“The executive board’s assessment was that the