Norway central bank raises interest rate, may hike again
The central bank said inflation remains above target and that rates will likely stay high for a while.
- On Thursday, Norges Bank raised its key policy rate by 0.25 percentage points to 4.5 percent, with the Norwegian krone strengthening immediately after the announcement as Central Bank Governor Ida Wolden Bache aimed to curb inflation toward the 2 percent target.
- Inflation has remained above the 2 percent target for several years, prompting Norges Bank to implement its second rate hike this year, while Sweden's central bank, the Riksbank, has kept its key interest rate steady at 1.75 percent.
- Ongoing strikes by the Norwegian Locomotive Drivers forced 138 train cancellations on Thursday, with 145 more scheduled for Friday; leader Rolf Ringdal said the union can continue "for many weeks" without direct dialogue between parties.
- Oslo city council proposed a 2027 budget eliminating residential property taxes and capping monthly transit passes at 499 kroner, though the plan also includes a 27.5 percent increase in water fees, with a final vote scheduled for December.
- State meteorologists warn that temperatures may exceed 20C as record October heat approaches, while Norway Police continue searching for missing Czech tourists after a boat sank off the coast of Nordmøre.
59 Articles
59 Articles
Reformatorisch Dagblad
The Norwegian central bank raised interest rates for the second time this year on Thursday to combat inflation in the country. According to the Norges Bank, further increases may be necessary to bring the rise in consumer prices under control.
Norges Bank Hikes for Second Time as Riksbank Picks Hawkish Hold
(Bloomberg) -- Norway’s central bank increased borrowing costs for the second time this year, and said it’s primed to hike again if necessary to tame consumer prices, with its hawkish mood also echoed by neighboring Riksbank.
BT
While Norway's central bank is raising interest rates, just as Denmark has done, it is being held steady in Sweden.
Norges Bank Hikes for Second Time With Readiness to Act Again
Norway’s central bank increased borrowing costs for the second time this year, and said it’s primed to hike again if necessary to tame consumer prices, with its hawkish mood also echoed by neighboring Riksbank.
Coverage Details
Bias Distribution
- 42% of the sources are Center, 42% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
