Norges Bank is hiking the rate to 4%, the highest level since 2008. It says inflation ‘has edged down but remains high and markedly above the target’ of 2%
Norway’s central bank said Thursday that it is raising its key interest rate by a quarter-percentage point to combat high inflation.
“A somewhat higher policy rate is needed to bring inflation back to target,” according to the central bank. “If the economy evolves as currently anticipated, the policy rate will be raised further in September,” she said in a statement.
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