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

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 undesirable consequences," the Finance Ministry said in a statement.