Norway puts rate rises on ice


The Norges Bank's executive board made no change to the cost of borrowing at its rate setting meeting on Wednesday.

The decision follows two rises at the end of 2009, which made the central bank the first to raise rates in Europe after the crisis and mirrors Tuesday's decision from Australia's central bank, officially the first to exit.

"Underlying inflation is now slightly below 2.5%, but will probably move down in the period to summer," the central bank said. The Norwegian economy had grown in

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