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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Norges Bank Interest Rate Decison held to 0.0% in August 2020
FMPMonthlyReleased August 2020
Norway Norges Bank Interest Rate Decison held to 0.0% in August 2020. The reading matched the 0.0% consensus. The print is running well below the 12-month average of 1.02%. Norges Bank Interest Rate Decison is now the lowest in 58 months.
Latest Release
0
Actual
0
Consensus
0
Previous
Median Absolute Error
±0 percentage points
across last 12 releases
Last Call
Aug 2020
Predicted: 0
Actual: 0
Error: +0
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.50 | FOREX | Bullish NOK | → View |
| EUR/NOK | ▼ Inverse | −0.45 | FOREX | Bullish NOK | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Norges Bank Interest Rate Decison (Norway) was reported at 0% in August 2020. This matched the market consensus of 0% exactly. The reading was unchanged from the previous release. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 0%, down from the prior three at 0.92%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/NOK (Bullish NOK). A secondary relationship exists with EUR/NOK, negatively correlated (Bullish NOK). Over the last 12 releases, the Sigmacast model's median absolute error is 0%.
Auto-generated from current model state · Refreshes on each release · Last update August 2020.
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Norges Bank Interest Rate Decison - NO
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About Norges Bank Interest Rate Decison — Norway
DEFINITION
The Norges Bank Interest Rate Decision is a key financial indicator that reflects the monetary policy decisions of the central bank of Norway. This decision, made by the Norges Bank's monetary policy committee, determines the interest rate at which commercial banks can borrow from the central bank. It is a crucial factor in influencing the country's economic growth, inflation, and exchange rates. Investors and businesses closely monitor this indicator as it can have a significant impact on the overall financial market and investment decisions.
WHY THIS INDICATOR MATTERS
Policy-rate decisions and associated communication are the primary near-term driver of front-end rates, currencies, and equity-discount-rate inputs. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2020): actual 0 %, consensus 0 %. Prior reading (Aug 2020): 0 %. Before that (Aug 2020): 0 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/NOK (Bullish NOK, r=-0.50) — a useful reference for forex-focused traders.