> Norges Bank Interest Rate Decision May 2025: Held at 4.50%
> Source: https://interestratedecision.com/norges/may-2025/ · Content last changed: 2025-05-08
> InterestRateDecision.com: free to quote with a link to the page above.

Held at 4.50%, as expected (Norges Bank, May 8, 2025). EUR/NOK: hour-before range 341 pips, first spike 3.1 pips below, −140 pips after one hour.

# Norges Bank Interest Rate Decision, May 2025

Norges Bank held the policy rate at 4.50% on May 8, 2025, as expected.

Decision**4.50%**■ hold

Against expected**As expected**expected 4.50%

Previous**4.50%**policy rate

EUR/NOK one hour later **−140 pips** from the last price before

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

The result

## What Norges Bank decided in May 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+2** Thursday, May 8, 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](https://interestratedecision.com/about/#method).

1.  **The hour before**EUR/NOK ranged 341 pips, from 11.70406 to 11.73814, and was at 11.71625 at the announcement.
2.  **The first spike** After 22 minutes price went through the hour's low and ran 3.1 pips past it.
3.  **The close back** A five-minute candle closed back inside the range after 25 minutes.
4.  **The other side** Price did not trade through the opposite edge within four hours.
5.  **The moves** From the last price before the announcement: −59 pips at 15 minutes, −140 pips at one hour, −253 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](https://interestratedecision.com/norges/#dates) · [Norges Bank overview](https://interestratedecision.com/norges/).

[← Previous decision**Norges Bank, March 2025**Held at 4.50%](https://interestratedecision.com/norges/march-2025/) [Next decision →**Norges Bank, June 2025**Thu, Jun 19, 10:00 AM GMT+2](https://interestratedecision.com/norges/june-2025/)

**The same week:** [Fed, Wed, May 7](https://interestratedecision.com/fed/may-2025/) · [Riksbank, Thu, May 8](https://interestratedecision.com/riksbank/may-2025/) · [BoE, Thu, May 8](https://interestratedecision.com/boe/may-2025/) · [this week's decisions](https://interestratedecision.com/this-week/)

**Norges Bank:** [Will Norges Bank raise or cut rates?](https://interestratedecision.com/norges/will-norges-bank-raise-rates/) · [Norges Bank rate odds](https://interestratedecision.com/norges/rate-odds/) · [Norges Bank meeting dates 2025](https://interestratedecision.com/norges/meeting-dates-2025/) · [Norges Bank rate history since 2008](https://interestratedecision.com/norges/rate-history/) · [all central bank rates](https://interestratedecision.com/central-bank-rates/)

Questions

## Norges Bank May 2025 decision: questions

What time was Norges Bank interest rate decision on May 8, 2025?

It was announced at 10:00 AM GMT+2 (4:00 AM EDT New York, 9:00 AM London London).

What did Norges Bank decide in May 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 May 2025?

On one-minute candles: the hour before ranged 341 pips; the first spike went below it by 3.1 pips; a five-minute candle closed back inside after 25 minutes; after one hour EUR/NOK was −140 pips from its pre-announcement price.

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