Friday, May 13, 2011

Norwegian Central Bank Hikes Rate 25bps to 2.25%

The Norges Bank increased its key policy rate by 25 basis points to 2.25% from 2.00% previously.  The Bank said: "The upturn in the Norwegian economy has gained a firm footing. Several other central banks have raised their key rates. The consideration of stabilising activity and inflation somewhat further ahead suggests that the key policy rate should be raised".  The Bank noted that the oil rich Norwegian economy saw underlying inflation of "1¼ – 1½ per cent".


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