Norway leaves rates unchanged

The Bank of Norway's Executive Board opted on Thursday 13 March to keep rates at 5.25% for the second consecutive vote.

The board raised rates back in December on fears that inflation was set to rise. And the central bank said on Thursday that price growth had "picked up markedly" since then.

CPI inflation for the year to February was 3.7%. And while the central bank estimated underlying inflation at close to 2.5%, its target rate, other measures put the core rate at 3.5%.

Inflation was expe