Norges Bank signals March rate hike
Last MPC meeting under Olsen says economy needs says “gradual normalisation” of policy
Norway’s central bank said today (January 20) that it “will most likely” increase interest rates at its next monetary policy committee meeting in March.
This was the MPC’s last policy meeting under governor Øystein Olsen, who will leave Norges Bank at the end of February. In September, the MPC increased its policy rate from 0% to 0.25%, hiking it again in December to 0.5%, where it remains.
Norwegian inflation, measured by a core index excluding energy and taxes, was 1.8% year-on-year in
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