Norway's central bank held its policy interest rate unchanged at a 17-year high of 4.50% on Thursday, as unanimously expected by analysts in a Reuters poll, and maintained plans to start cutting borrowing costs in March.

Norges Bank is set to restate plans for its first post-pandemic cut in borrowing costs in March, though the outlook for further steps beyond that is clouded.

Norway’s central bank held its key policy rate at 4.5% and reaffirmed that it will likely begin monetary policy easing in March, but noted concern over potential trade tariffs from the U.S.