Norway - Average Long-term Government Bond

Norway: Average Long-term Government Bond

Unit % p.a., NSA
Adjustments Not Seasonally Adjusted
Business Daily
Data 21 Mar 2023 3
20 Mar 2023 2.91

Series Information

Source Norges Bank
Release Interest rates [Daily]
Frequency Business Daily
Start Date 1/2/2019
End Date 3/21/2023

Norway: Markets

Reference Last Previous Units Frequency
Average Long-term Government Bond 21 Mar 2023 3 2.91 % p.a., NSA Business Daily
Lending Rate 21 Mar 2023 2.75 2.75 % p.a., NSA Business Daily
Stock Market Index 20 Mar 2023 1,321 Index, NSA Daily
Money Market Rate Dec 2016 1.16 1.1 % Monthly

Release Information

Each day, Norges Bank publishes a compendium of interest rates with a one-day lag, including NIBOR (nominal and effective) from overnight to one year, and government securities (three months to ten years).

Sovereign yields


  • Method: Zero-coupon yield
  • Measurement: Percent per annum (% p.a.)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Business daily
  • Start date: Uniformly 2 January 2019


  • Synthetic yield - As early as 1985 to 2021


The interest rate on unsecured overnight interbank loans between banks that are active in the Norwegian overnight market. Based on actual transactions, so suitable a risk-free alternative reference rate. Established in 2011. Administration transferred from Finans Norges to Norges Bank on 1 January 2020.


The Norwegian Inter-Bank Offered Rate (the money market interest rate). Both nominal and effective rates are published, for nine maturities: overnight, 1- and 2-week, 1-, 2-, 3-, 6-, 9- and 12-month.

After omitting low and high rates based on provisions outlined in the rules, the Nibor panel banks submit interest rates for each maturity. Nibor is calculated as a simple average of these interest rates.

An individual panel bank submits interest rates that reflect the interest rates the bank would charge on lending in NOK to a leading bank that is active in the Norwegian money and foreign exchange markets. The rates should be regarded as the best possible estimates of the market rates, but not as binding offers.

Nibor is published as an annual nominal interest rate over 360 days, which is standard in the foreign exchange market. The percentage return over the term is calculated by dividing the interest rate by 360 and multiplying it by the actual number of days to maturity.

Treasury bills

Zero-coupon government securities with an original security of less than one year. At maturity, the holder is Normally issued at the beginning of each month as well as in connection with IMM dates each year. Published: rates on 3-, 6-, 9- and 12-month maturities.

Government bonds

Interest-bearing securities with an original maturity of more than one year, and normally between two and eleven years. Interest is payable at the coupon rate on a specific date once a year, over the life of the bond. At maturity, the bondholder is paid the face value of the bond in addition to the coupon rate, which reflects the market rate at the time that the bond was first issued. Published: rates on 3-, 5- and 10-year maturities.

IMM dates

The third Wednesday in March, June, September and December. New 12-month Treasury bills are issued on IMM dates.

The data for the 10-year rate refers to the par yield rates.

Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative "interest rate" for this area. Generally the yield is calculated at the pre-tax level and before deductions for brokerage costs and commissions and is derived from the relationship between the present market value of the bond and that at maturity, taking into account also interest payments paid through to maturity. (

Moody's Analytics supplements

For the yield on 10-year government debt, we back-extend.

Daily interest rates are not revised after they are first published.

Further reading

Norges Bank:

Finans Norge:

Third-party commentary: