Central Bank Rate Hike in Norway

September 22, 2022

The Bank of Norway‘s policy interest rate was lifted by 50 basis points today and becomes 2.25%. In six moves over the past year, the rate has risen from zero percent. Guidance suggests that there likely will be a further increase at the next meeting in November. Since officials see some evidence that monetary tightening is constraining economic activity, the hope is that the pace of restraint could become more gradual thereafter. But August inflation was just slightly below July’s 34-year high of 6.8%, but officials retained the caveat that ” our projections are more uncertain than normal.”

Copyright 2022, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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