NEWS

Norway’s central bank is preparing for a series of quarterly interest-rate increases after the summer, in a move that puts it ahead of most of the rich world in unwinding the crisis policies triggered by the pandemic. Norges Bank will “most likely” raise rates in September, Governor Oystein Olsen said in a statement on Thursday. At a press conference later in the morning, he suggested the bank will deliver 25 basis-point hikes each quarter over the coming year. Previous guidance from the bank, which kept its main rate at zero as expected, pointed to tightening in the second half of 2021.

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