NEWS

The governor of Norway’s central bank says he’s been surprised by the strength of the economic rebound in his country, as he signals an end to crisis interest rates roughly a year earlier than expected.

“The consumption of services is rising markedly, and consumption of goods has maintained itself all along and is growing now,” Governor Oystein Olsen said in a phone interview in Oslo. “The entire picture is a bit of a positive surprise for us.”

Norges Bank kept its benchmark deposit rate at a record low of zero on Thursday, as expected, after delivering three cuts earlier in the year to steer the richest Nordic economy through the Covid-19 crisis.

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