Norway’s broad money supply (M3) decreased modestly in July 2026, suggesting a slight pullback in overall liquidity within the economy. According to the latest data, updated on 24 August 2026, M3 slipped to 3,645.5 billion NOK from 3,657.0 billion NOK in June 2026.
The month‑on‑month decline in M3 indicates that the pace of monetary expansion has cooled, which can reflect softer credit growth, reduced deposits, or portfolio shifts by households and firms. While the move is relatively small in absolute terms, it will be closely watched by market participants and policymakers as they assess underlying financial conditions and potential implications for lending, investment, and broader economic momentum in Norway.