Norges Bank's executive board has decided to keep the key policy rate unchanged at 0.50%.
In the Monetary Policy Report, the executive board's assessment was that there was still a need for an expansionary monetary policy.
Capacity utilization in the Norwegian economy was considered to be somewhat below normal levels, and inflation was expected to remain below 2.5% in the next few years.
The executive board's assessment of the outlook and risk scenario indicated that the key rate would be 0.5% in the near future.
It said the recovery in the Norwegian economy appears to continue in line with the picture presented in Monetary Policy Report. Price inflation is low, but has increased as expected.