Norway's central bank held its policy interest rate unchanged at a 16-year high of 4.50% on Thursday, as widely expected, and said any cuts must wait until the first quarter of next year, boosting the crown currency.

Norway's central bank will keep its key policy interest rate unchanged this week at a 16-year high of 4.50%, all 27 economists in a Reuters poll said, as investors look for signs of when Norges Bank may eventually begin to cut borrowing costs.

Norway's central bank has kept its policy interest rate unchanged at a 16-year high of 4.5%, as widely expected, and said any cuts must wait until the first quarter of next year.

Norway's central bank kept its key interest rate at a 16-year high Thursday and signalled it would only start cuts next year, later than its US and European peers.

At last, it’s arrived: after years of ever-tightening interest rates we are finally at what could be pivot week, with the world’s biggest economy expected to cut rates. Wednesday is the moment when most think the Fed will start lowering US interest rates.

The Federal Reserve’s highly anticipated two-day meeting, which gets underway on Tuesday, is poised to take center stage.