Interest Rate Decision Riksbank in 22h 13m
  1. Home
  2. Norges Bank
  3. January 2025

Norges Bank Interest Rate Decision, January 2025

Norges Bank held the policy rate at 4.50% on January 23, 2025, as expected.

Decision4.50%■ hold
Against expectedAs expectedexpected 4.50%
Previous4.50%policy rate
EUR/NOK one hour later +239 pips from the last price before

Figures as of Nov 3, 2026, 10:15 AM UTC.

The result

What Norges Bank decided in January 2025

The move Hold Held at 4.50%.
Against expected No surprise Economists expected: hold at 4.50%. The decision was as expected.
Timing 10:00 AM GMT+1 Thursday, January 23, 2025.
What price did

EUR/NOK after Norges Bank decision, minute by minute

One-minute candles, Oslo time. The box is the hour before the announcement. How we measure.

EUR/NOK one-minute chart around Norges Bank decision of Jan 23, 2025 The hour before the 10:00 announcement ranged 164 pips. The first spike went below it by 29 pips, and a five-minute candle closed back inside after 5 minutes. 11.73 11.74 11.75 11.76 09:00 09:30 10:00 10:30 11:00 11:30 THE HOUR BEFORE Norges Bank 10:00 Spike 11.73174 · 29 pips past the hour's low Closed back inside · 5 min
  1. The hour beforeEUR/NOK ranged 164 pips, from 11.73463 to 11.75098, and was at 11.73509 at the announcement.
  2. The first spike After 0 minutes price went through the hour's low and ran 29 pips past it.
  3. The close back A five-minute candle closed back inside the range after 5 minutes.
  4. The other side Price then traded through the opposite edge of the range within four hours.
  5. The moves From the last price before the announcement: +173 pips at 15 minutes, +239 pips at one hour, −45 pips at four hours.
For context

Across 14 measured Norges Bank decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 8 (57%), and in 3 of those price then took the other side within four hours. In the other 6 the first move held. Median move in the first 15 minutes: 280 pips.

This decision is one of the closed-back cases. Counts include the decisions where it did not close back. All Norges Bank dates · Norges Bank overview.

← Previous decisionNorges Bank, December 2024Held at 4.50%
Next decision →Norges Bank, March 2025Thu, Mar 27, 10:00 AM GMT+1
Questions

Norges Bank January 2025 decision: questions

What time was Norges Bank interest rate decision on Jan 23, 2025?

It was announced at 10:00 AM GMT+1 (4:00 AM EST New York, 9:00 AM London London).

What did Norges Bank decide in January 2025?

Held at 4.50% (previous 4.50%). Economists expected: hold at 4.50%, so the decision was as expected.

How did EUR/NOK react to Norges Bank decision in January 2025?

On one-minute candles: the hour before ranged 164 pips; the first spike went below it by 29 pips; a five-minute candle closed back inside after 5 minutes; after one hour EUR/NOK was +239 pips from its pre-announcement price.

By Forexia

Learn the read behind every projection.

Forexia teaches the same read this site measures: where the stops rest before a release, the hunt, and the close back that says it is done. Courses, live signals for members, and a community of traders who chart the same way.

Explore Forexia Free Telegram channel