Norway and Moldova are first in Europe to hike rates on Iran war
Norges Bank cites broad inflation concerns, but Moldova points to conflict-induced energy spike
The National Bank of Moldova and Norges Bank have become the first central banks in Europe to raise rates following the start of the Middle East conflict.
Moldova hiked rates by 150 basis points today (May 7), while Norway’s central bank tightened policy by 25bp.
The hikes were broadly expected. Francesco Pesole, a foreign exchange strategist at ING, tells Central Banking that he had anticipated Norges Bank would raise rates as it had signalled its concern about inflation more broadly, and not
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