Norges Bank increases rates by 25bp
Norwegian central bank says weaker exchange rate may require higher rates than expected
Norway’s central bank increased its policy rate by 25 basis points to 3.25% on May 4, in line with market expectations.
Governor Ida Wolden Bache said the central bank will “most likely” raise rates again in June. “If the krone remains weaker than projected or pressures in the economy persist, a higher policy rate than envisaged earlier may be needed”, Wolden Bache said.
Norges Bank’s policy statement noted that inflation was still “markedly above the target of 2%”, adding that economic
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