Rates to stay at current levels – NB’s Olsen

At his press conference today, Governor of the Norges Bank Oystein Olsen reiterated rates are likely to stay at current levels for a significant time.

In addition, Olsen expects NOK to appreciate further in the next months while the probability of rate cuts and rate hikes are evenly balanced.

He expects unemployment to remain on the downside on rising capacity levels, while house prices growth should subsidize in the near term.