Norges Bank ups rates by 50bp and signals faster tightening
Inflation is “considerably higher” than projected by the central bank, and well above its 2% target
Norges Bank increased its policy rate by 50 basis points after its monetary policy meeting today (August 18), while signalling a faster path of rate increases is necessary to bring inflation down to its target.
This is the second consecutive 50bp rate increase, which was broadly expected by investors and observers. It takes the monetary policy rate to 1.75%. The Norwegian central bank started its current tightening cycle in September 2021, when it increased rates from 0% to 0.25%.
A Norges
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