Norges Bank Press Conference, 3 July

PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board / Inflation Report 2/ 2002.

The Executive Board of Norges Bank has today decided to increase its key rate, the sight deposit rate, by 0.5 percentage point with effect from tomorrow, 4 July. The sight deposit rate will hence be 7.0 per cent. According to Norges Bank's overall assessment of the balance of risks, the probability that inflation two years ahead will be higher than 2 ½ per cent is greater than the probabilit