Norway’s MPC tightens policy and signals more hikes to come
Norges Bank raises policy rate expectations as it says Norwegian labour market is extremely tight
Norway’s monetary policy committee voted unanimously to raise rates on June 23 and said it would probably tighten policy further.
Norges Bank’s MPC raised its policy rate by 50 basis points to 1.25%, after many analysts had forecast a 25bp rise. Norway’s year-on-year inflation reached 5.7% in May, its highest level for almost 14 years and its fourth consecutive monthly increase.
Central bank governor Ida Wolden Bache said the MPC would “most likely” raise rates by another 25bp at its next
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