Norwegian Central Bank Hike

March 23, 2023

The Central Bank of Norway‘s 3.0% policy interest rate has risen from zero percent as recently as September 2021. Krone depreciation, rising wage growth, low unemployment, and resilient economic activity have driven inflation well above the 2% target, and the central bank’s governor provided forward guidance that more rate hikes are likely: “There is considerable uncertainty about future economic developments, but if developments turn out as we now expect, the policy rate will be raised further in May.”

Copyright 2023, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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