The decision was expected, according to Bloomberg's compilation of estimates.
"Inflation has moderated and been lower than expected this summer. Lower inflation is welcome news, but inflation is still too high, and it is too early to conclude that the inflation outlook has changed significantly," said Central Bank Governor Ida Wolden Bache in a press release.
"It may therefore still be necessary to raise the policy rate," she said.
The central bank will present new inflation forecasts in September.
"The conflict in the Middle East continues to create uncertainty about the inflation outlook," the central bank writes.
