Norges Bank bucks global trend with rate hold

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Norges Bank chose to hold its policy rate steady at 0.75% today (May 5), breaking with many other central banks that have accelerated their tightening cycles.

Policy-makers voted unanimously to keep the rate unchanged, sticking with guidance issued in March that a rate hike will likely be needed in June.

The central bank’s statement noted the Norwegian labour market is tight and unemployment lower than previously projected. Inflation has also been rising, but it fell short of Norges Bank’s

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