Norges Bank on Wednesday raised its key rate to 1.75% on signs that the pick-up in economic activity had become well entrenched.
The decision surprised analysts, with the majority forecasting no change. The Oslo All Share index fell following the decision but still closed up 0.86% for the day. But, although the vote was split with some calling for a hold, the central bank said revived growth in Norway and elsewhere, along with rising inflation, warranted the action.
"Activity in the Norwegian ec