Norges Bank expected to cut rates once in 2025 as NOK weakens, BCA upgrades bonds

Published 18/08/2025, 11:42
Norges Bank expected to cut rates once in 2025 as NOK weakens, BCA upgrades bonds

Investing.com - The Norges Bank is expected to implement only a single interest rate cut before the end of 2025 as the Norwegian krone (NOK) continues to weaken and inflation remains around 3%, according to a new report from BCA.

The research firm anticipates more aggressive monetary easing in 2026, citing delayed economic recovery due to persistent weakness in Norway’s energy sector and deteriorating labor market conditions.

BCA has upgraded Norwegian government bonds to an overweight rating on a nine-to-twelve-month investment horizon, suggesting increased confidence in fixed-income returns as the central bank eventually moves toward a more accommodative policy stance.

The firm simultaneously downgraded its outlook for Norwegian equities both in absolute terms and relative to Euro Area stocks, indicating reduced expectations for stock market performance.

Norway’s central bank faces the challenging task of balancing currency stability concerns against economic growth objectives, with the weakening krone limiting its ability to cut rates more aggressively despite emerging signs of economic slowdown.

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