Category: Business News
OSLO, May 5 (Reuters) – Norway’s central bank kept interest rates on hold on Thursday as widely expected and restated its plan to raise the cost of borrowing in June amid rapidly rising inflation.
Norges Bank’s monetary policy committee unanimously agreed to keep the rate steady at 0.75%, as predicted by a Reuters poll of economists. read more
“Based on the committee’s current assessment of the outlook and balance of risks, the policy rate will most likely be raised in June,” Governor Ida Wolden Bache said in a statement.