This update explores some high level trends and legal
developments across some of Norway's key sectors that have an
international impact.
The final quarter of 2022 has brought to a close an extremely
volatile and challenging year. Whilst Norway officially waved
farewell to effectively all coronavirus restrictions on February
12, the positivity this generated was short-lived, with the Russian
invasion of Ukraine on February 24. This has unquestionably shaped
the rest of the year that followed.
The Norwegian central bank, Norges Bank, increased its policy
rate on 15 December to 2.75 per cent, representing the seventh
increase since the end of the pandemic and the zero rate in
September 2021. This, in combination with increased inflation, high
energy prices, global political uncertainties and the war in
Ukraine has had a significant impact on the availability of funding
in the Norwegian markets. The real estate market has been
particularly affected with H2 seeing
