Norwegian central bank decided for rate increase


Norway’s central bank has raised interest rates for the second time since September. The interest rate rose by a quarter of a percentage point to 1 percent, as was expected by most economists.

The interest rate step at Norges Bank is related to Norway’s economic strength, helped by rising oil prices. By raising interest rates, the central bank wants to prevent the economy from overheating and curb inflation. Inflation is currently above the target of the central bank.

Norges Bank indicated that it would expect further interest rate increases. The Norwegian krone rose after the interest rate decision.

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