Norges Bank Norway’s central bank raised its benchmark interest rate on Thursday, raised the sight deposit rate to 0.25%
- from zero
- the hike was as expected
The Bank said it expect to do the same again in December, another hike
- and three more hikes by the end of 2022 (to 1.25%) had become more likely.
The governor of the Norwegian central bank spoke at a press conference after:
- There is a strong recovery in the Norwegian economy
- It’s time to start a gradual normalisation of the policy rate