Norges Bank raises rates to 3.50%

The Norwegian central bank said Wednesday 13 December it has decided to raise the sight deposit rate to 3.50 pct from 3.25 pct, effective from Thursday.

The central bank said the overall assessment in the Inflation Report, published today, is in line with the strategy in the previous report.

Employment is rising rapidly and unemployment has fallen markedly, it said, and a steadily rising number of enterprises are facing labour shortages. As a result, wage growth is on the rise.

Underlying infl