The policy rate will most likely be raised further in November, it said.
It comes as central banks worldwide are making big rate increases to tackle inflation, which has surged as the global economy bounced back from the COVID-19 pandemic and then was hit by the fallout from Russia's war in Ukraine.
On Wednesday, the U.S. Federal Reserve raised interest rates by three-quarters of a point rate for the third time in a row. In a busy day for central banks, Swiss monetary policymakers carried out the biggest hike ever to the key interest rate Thursday, while the Bank of England is under pressure to act aggressively, too.
Earlier this month, the European Central Bank also hiked its rate by three-quarters of a point. Norway is not part of the European Union.