Norges Bank increases interest rates by 0.25%

Norges Bank's Executive Board decided on Wednesday 2 November to raise the sight deposit rate by 0.25 percentage point to 2.25 per cent with effect from 3 November. Output growth is high and may in isolation suggest a more rapid increase in the interest rate ahead, the Bank said.

"This would reduce the risk of bottlenecks in the economy with rising cost inflation and continued debt build-up," Norges Bank said in a statement following the decision.

"On the other hand, raising the interest rate m