Norway

Norway Keeps Interest Rate Steady, Signaling Cuts Aren't Likely Until 2025

2 months ago

The Central Bank of Norway has decided to maintain its interest rate at 4.25%, announcing that any plans for cuts are not likely to materialize until 2025. This decision is driven by a desire to support economic stability in the country amid various market influences, including rising inflation and changing work conditions.

Norway Hits New Record – Electric Vehicles Now Surpass Gasoline Cars

2 months ago

According to the Norwegian Road Federation (OFV), as of mid-September 2024, the number of registered electric vehicles in Norway has exceeded that of gasoline cars. There are now 1.5 electric vehicles for every gasoline vehicle. This milestone emphasizes the successful transformation of the country's vehicle fleet, which is actively transitioning to environmentally friendly transport. In 2020, the share of electric cars in Norway's automotive market reached 54%, and since then, this figure has only been increasing.

Norway Maintains Economic Stability: Norges Bank Survey Calls Future Rate Hikes into Question

3 months ago

Recent data released from Norway indicates that the country's economic activity remains high, leading to a shift in expectations regarding future changes in interest rates. A survey conducted by Norges Bank revealed that many business leaders and economists are confident in the sustainability of the current economic situation, despite global economic upheavals and potential risks. As a result, many analysts are revising their forecasts concerning further interest rate hikes in Norway.

Norway's Core Inflation Slows, Boosting Rate Cut Odds

3 months ago

Core inflation in Norway continues to slow, providing additional grounds for the country's central bank, Norges Bank, to consider a potential rate cut in the near future. According to a recent report released this week, the core inflation level in August fell below analysts' expectations, leading to increased speculation about easing monetary policy.

The Arctic Battle: Russia's Special Operation and China's Trade Expansion

3 months ago

In recent years, the Arctic has drawn increasing attention from various nations eager to strengthen their foothold in this strategically significant region. China, Norway, and Russia play crucial roles in this geopolitical game, each striving to enhance their influence and reap the benefits from the resources and trade routes opening up due to climate change.

Norway's Sick Leave Levels Reach Highest Since 2009

3 months ago

Recent data indicates that the number of sick leaves in Norway has reached its highest level since 2009, the year when the country faced the swine flu pandemic. This increase is evident across all sectors, impacting both private and public institutions, causing significant concern among employers and government agencies.

Norway: Housing Prices Rebound After Decline in August

3 months ago

Recent data indicates that the real estate market in Norway has shown signs of recovery despite previous declines. In August, housing prices rose by 1.6%, representing a significant deviation from the overall downward trend observed in recent months. This price increase may be attributed to heightened demand from buyers, as confirmed by reports from various real estate agencies.

Norway to Limit Rate Cuts Due to Strong Economy and Robust Krone, Says Nordea

3 months ago

According to the latest analysis from the Swiss investment bank Nordea, Norway's economy is showing strong performance, significantly limiting the options for the country's central bank to cut interest rates in the near future. The investment house claims that the stability of the krone and the economic dynamics amid potential global economic changes require a cautious approach from the regulator.

Norway Sets Record in Electric Car Sales, Reaching 94% Market Share

3 months ago

Norway continues to lead the world in electric car sales, achieving an unprecedented level of 94% of total car sales in August 2024. This figure is the result of active government policies aimed at promoting a shift towards clean technologies, as well as an increase in the availability of models on the market.

Norway Surprised by Drop in Unemployment: Odds of Rate Cut in 2024 Reduced

3 months ago

Recent data from Norway showed unexpected improvements in the labor market, leading to a drop in the unemployment rate. In August, the unemployment rate fell to 3.3%, the lowest level in over a year. This news came as a surprise to many analysts who had predicted that unemployment would remain stable or even rise amidst global economic changes and internal challenges.