April 26, 2019 / 10:06 AM / 6 months ago

Norway says no plans to cap rates on short-term consumer loans

OSLO, April 26 (Reuters) - The Norwegian government does not currently plan to introduce maximum interest rate levels for small, short-term consumer loans, it said in an annual review of the banking industry on Friday.

“This could be a potential measure if there were to develop a large market for such loans, but in today’s market this would not be a precise enough tool to justify the associated risk of undesireable consequences,” the Finance Ministry said in a statement. (Reporting by Terje Solsvik, editing by Nerijus Adomaitis)

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