Norway's Gjedrem on the economic outlook

In the speech 'The economic outlook - address to diplomats' given on 22 March Svein Gjedrem of Norges Bank said the bank would continue to tighten monetary policy and that interest rates would rise in the short term.

Gjedrem said in the speech that he expects the key interest rate to rise by the end of 2007.

'... the key policy rate is expected to move up to about 5 pct around the end of 2007,' Gjedrem said.

"Economic developments are uncertain. The uncertainty surrounding the interest rate ahead

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