Ida Wolden Bache becomes Norges Bank governor as MPC raises rates
Jens Stoltenberg steps down from role due to Ukraine crisis
Norges Bank increased policy rates today (March 24), as Ida Wolden Bache was appointed governor after Nato secretary-general Jens Stoltenberg announced he would not take the role.
The Norwegian central bank’s executive board increased the rate 25 basis points to 0.75%, in a widely anticipated move. Interest expectations at the end of 2023 had been increased from 2% to 2.5% in its latest monetary policy report.
“This is above what is estimated to be a neutral policy rate,” the Norges Bank
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