Norway's central bank kept its key policy rate unchanged at 4.5% at its November 2026 meeting, in line with investor expectations and forecasts from all 16 analysts in a Bloomberg survey. The decision followed a 25-basis-point increase in September. Norges Bank said restrictive monetary policy remains necessary to bring inflation back to target within a reasonable time horizon and indicated that borrowing costs could rise again if price pressures remain high. Governor Ida Wolden Bache has said the rate may need to remain elevated for some time, while rapid increases in business costs in recent years are likely to sustain inflationary pressure. The interim meeting included no new economic forecasts or interest-rate projections, and policymakers said they had received no information indicating a material change in Norway's economic outlook since September.