Norway's central bank has maintained its policy interest rate at 4.50%, the highest level in 16 years, while signaling plans for potential cuts beginning in the first quarter of 2025. The decision comes amid concerns over above-target inflation and a weak krone, which complicates the economic landscape. Economists are divided on the timing of the rate cuts, with some predicting a reduction as early as December 2024, while others suggest March 2025 may be more likely. The central bank emphasized the need for a restrictive monetary policy to control inflation, which has persisted above the target rate. Recent data indicates that core inflation has slightly eased, but remains above the central bank's goal. This decision reflects a contrast with other central banks that are beginning to loosen monetary policy as global inflation pressures diminish.