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Norway central bank keeps rate on hold, eyes 2025 cut

BY Reuters | ECONOMIC | 09/19/24 04:04 AM EDT

OSLO, Sept 19 (Reuters) - 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 it plans to start cutting borrowing costs in the first quarter of next year.

Economists have been divided over when Norges Bank may begin to ease policy, with a majority of those polled by Reuters predicting a cut in December this year, while a minority pointed to March of 2025 as the most likely timing. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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