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

Norges Bank Interest Rate Decision, September 2025

Norges Bank lowered the policy rate 25 bp to 4.00% on September 18, 2025, as expected.

Decision4.00%▼ cut −25 bp
Against expectedAs expectedexpected 4.00%
Previous4.25%policy rate
EUR/NOK one hour later −423 pips from the last price before

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

The result

What Norges Bank decided in September 2025

The move −25 bp Cut 25 bp to 4.00%, from 4.25%.
Against expected No surprise Economists expected: cut 25 bp to 4.00%. The decision was as expected.
Timing 10:00 AM GMT+2 Thursday, September 18, 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 Sep 18, 2025 The hour before the 10:00 announcement ranged 240 pips. The first spike went above it by 71 pips, and a five-minute candle closed back inside after 5 minutes. 11.58 11.60 11.62 11.64 09:00 09:30 10:00 10:30 11:00 11:30 THE HOUR BEFORE Norges Bank 10:00 Spike 11.65149 · 71 pips past the hour's high Closed back inside · 5 min
  1. The hour beforeEUR/NOK ranged 240 pips, from 11.62041 to 11.64437, and was at 11.62067 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 71 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: −26 pips at 15 minutes, −423 pips at one hour, −398 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, August 2025Held at 4.25% Next decision →Norges Bank, November 2025Thu, Nov 6, 10:00 AM GMT+1
Questions

Norges Bank September 2025 decision: questions

What time was Norges Bank interest rate decision on Sep 18, 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 September 2025?

Cut 25 bp to 4.00% (previous 4.25%). Economists expected: cut 25 bp to 4.00%, so the decision was as expected.

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

On one-minute candles: the hour before ranged 240 pips; the first spike went above it by 71 pips; a five-minute candle closed back inside after 5 minutes; after one hour EUR/NOK was −423 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