Norges Bank makes surprise rate hike as inflation rebounds

Governor warns economy is cooling but inflation has risen in past two months

Norges Bank HQ, Oslo
Norges Bank headquarters, Oslo
Esten Borgos

Norges Bank raised its policy rate today (December 14), surprising many analysts, as governor Ida Wolden Bache warned of difficult trade-offs facing the economy.

The monetary policy and financial stability committee opted for a 25 basis point increase, taking Norway’s main rate to 4.5%. 

“The policy trade-offs are challenging,” said Wolden Bache. “The policy rate has been raised considerably in recent years in order to tackle the high level of inflation. Unemployment is low and the employment rate

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