Norway's central bank, Norges Bank, maintained its key policy rate at 2.00%, but signaled a possible rate increase in the near term. The Bank explicitly noted,"The Executive Board's current assessment is that the key policy rate should be increased before the end of the first half-year of 2011," though any rate increase would be contingent on developments in the global economy. The Bank expects inflation to remain relatively low, but to progress towards the 2.5 percent inflation target; February consumer price inflation was 1.2% (2.0% in January).
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