Norges Bank hikes rates again, citing stronger growth

Norway’s central bank executive board increased its policy rate today (June 20) and said it was likely to raise rates again this year.

Norges Bank’s board raised the policy rate by 25 basis points to 1.25% in its second hike this year, citing higher-than-expected growth and above-target inflation.

Norway’s economy is growing more strongly than Norges Bank projected in its last policy report in March, the board’s statement said.

Statistics Norway forecasts mainland GDP, which excludes the oil