Norwegian rates likely to stay high

Norwegian rates, now at their highest level since January 2003, look set to remain at least as steep in the coming months.

Norges Bank opted to keep its key rate at 5.75% for the third-straight month on Wednesday and gave little hint that its rate outlook had shifted.

After its June vote, the central bank indicated that it had a slight tightening bias, saying that there was a 50/50 chance that it could raise rates to 6% in the second half of the year. And it said on Wednesday that no new info

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