Norges Bank and the Riksbank both announce rate decisions on 24 September

Two Nordic central banks announce interest rate decisions on Thursday 24 September 2026: Norges Bank in Norway and Sveriges Riksbank in Sweden. The Swiss National Bank decides the same day (SNB preview), which makes it a busy day for European currencies outside the euro area.

Norges Bank: 4.25%, with a rise still possible

At its last meeting, on 12 August, Norges Bank's Monetary Policy and Financial Stability Committee kept the policy rate at 4.25%. It said inflation had slowed over the summer and come in lower than projected, but was still elevated. In July, CPI-ATE, Norges Bank's measure of underlying inflation that adjusts for tax changes and excludes energy, was 2.7%, and headline consumer price inflation was 3.0%. The bank's inflation target is 2%.

The committee said it was too early to conclude that the inflation outlook had changed materially since June, and that it may still become necessary to raise the policy rate. It noted that the krone had appreciated a little again and was broadly in line with the path assumed in June.

The September decision comes with new forecasts in Monetary Policy Report 3/26, including an updated path for the policy rate. That path often moves the krone more than the decision itself.

Riksbank: 1.75%

The Riksbank left its policy rate at 1.75% in August, with the decision applying from 26 August. It said inflation over the summer had been higher than it forecast in June, and that there were signs growth had been stronger and that sentiment in the economy had clearly improved. The rate has been 1.75% since the Riksbank's cut in September 2025.

The September monetary policy meeting is being held in Gothenburg on 23 September. The decision is published on 24 September and applies from 30 September. The Riksbank's inflation target is 2%, measured by CPIF, consumer prices with a fixed mortgage interest rate.

What traders will watch

• Norway: whether the new rate path points to an increase, and how oil prices above $100 a barrel (report) feed into the forecasts. Oil and gas exports make the krone sensitive to energy prices (commodity currencies).
• Sweden: whether higher-than-forecast inflation and stronger growth change the Riksbank's message about how long its rate stays at 1.75%.
• The euro area and US backdrop: the European Central Bank raised rates on 10 September and the Federal Reserve decides on 16 September. EUR/NOK and EUR/SEK react to the gap between Nordic and euro area policy, not only to Oslo and Stockholm.

For the mechanics, see how interest rate decisions move currencies. Announcement times in your time zone are on the economic calendar.