Norway Real Interest Rate
Real interest rate FR.INR.RINR
Norway's real interest rate was 9.76% in 2025, ranked 12th globally. This represents a 52.7% increase from 2024. Data from World Bank, covering 2013–2025.
Overview
Norway's real interest rate stood at 9.76% in 2025, a rise of +3.37pp from 2024. Based on recent trends, this figure is projected to reach 9.76% by 2025. Norway ranked 12th globally.
Norway’s real interest rate has risen sharply over the 13‑year series, moving from 1.75 % in 2013 to 9.76 % in 2025, which places the country at the twelfth highest level worldwide. The indicator peaked at 18.43 % in 2023 before falling to a historic trough of –19.60 % in 2022, illustrating the volatility that has accompanied recent monetary policy adjustments and global inflationary pressures. Compared with peers of similar ranking, Norway’s 2025 rate is slightly below Armenia’s 10.15 % and above Uruguay’s 9.65 %, suggesting that while the Nordic economy remains relatively tight, it is not the most restrictive among comparable economies. The rapid ascent from the low‑single‑digit range reflects a concerted effort to curb price growth, yet the preceding plunge to negative territory underscores the sensitivity of real rates to external shocks. Continued alignment of fiscal discipline with monetary easing could moderate the upward trajectory, potentially stabilising the rate near its current level.
Data & projection
| Year | Real Interest Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 16.84% | - | - |
| 2026* trend | 13.30% | - | - |
| 2025* trend | 9.76% | - | - |
| 2025 | 9.76% | +3.37pp | #12 |
| 2024 | 6.39% | −12.03pp | #44 |
| 2023 | 18.43% | +38.03pp | #84 |
| 2022 | -19.60% | −4.68pp | #4 |
| 2021 | -14.92% | −20.27pp | #6 |
| 2020 | 5.35% | +1.54pp | #48 |
| 2019 | 3.81% | +7.38pp | #31 |
| 2018 | -3.58% | −2.54pp | #8 |
| 2017 | -1.03% | −5.78pp | #15 |
| 2016 | 4.74% | −1.74pp | #51 |
| 2015 | 6.49% | +2.54pp | #69 |
| 2014 | 3.94% | +2.19pp | #40 |
| 2013 | 1.75% | – | #19 |
Detected Pattern
Analysis
Norway matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw real interest rate improve within 24 months. View full analysis →
Frequently Asked Questions
Norway's real interest rate was 9.76% in 2025. Ranked 12th globally. This represents a 52.7% increase from the previous year.
Norway's real interest rate peaked at 18.43% in 2023.
The lowest real interest rate in Norway was -19.60% in 2022.
Norway ranks 12th globally in real interest rate as of 2025.
The World Bank indicator code is FR.INR.RINR. Data sourced from World Bank.
Norway's real interest rate is projected to reach 9.76% by 2025 based on trend extrapolation.
The real interest rate of Norway in 2025 was 9.76%. This ranks 12th in the world.
Cite this page
@misc{historysaid_norway_real-interest-rate,
title = {Norway Real Interest Rate},
url = {https://historysaid.com/norway/real-interest-rate/},
publisher = {HistorySaid},
year = {2026}
}