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Norway Stays the Course for Another Rate Increase in Early 2019


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Norway Stays the Course for Another Rate Increase in Early 2019

Business
Date posted: 29.10.2018

Category: Financial / Investment

Norway’s central bank kept its key interest rate unchanged and reiterated its intention to tighten again early next year as policy makers proceed cautiously in unwinding the record stimulus unleashed over the past years.

Norges Bank on Thursday held its benchmark at 0.75 percent, as anticipated by all analysts surveyed by Bloomberg. The krone traded 0.1 percent higher at 9.5039 per euro as of 10:29 a.m. in Oslo.

Norway’s central bank kept its key interest rate unchanged and reiterated its intention to tighten again early next year as policy makers proceed cautiously in unwinding the record stimulus unleashed over the past years.

Norges Bank on Thursday held its benchmark at 0.75 percent, as anticipated by all analysts surveyed by Bloomberg. The krone traded 0.1 percent higher at 9.5039 per euro as of 10:29 a.m. in Oslo.

“The Executive Board’s assessment of the outlook and balance of risks imply a gradual increase in the key policy rate,” the bank said. “Economic growth has been a little lower and inflation somewhat higher than projected, but the outlook and the balance of risks do not appear to have changed substantially since the September Report.”

Source: Bloomberg