A pedestrian passes the closed entrance to the headquarters of Norges Bank, also known as the central bank, in Oslo, Norway, on Wednesday, Oct. 29, 2014.
Krister Soerboe/Bloomberg | Bloomberg | Getty Images
Norway’s central bank on Thursday hiked its benchmark interest rate by 50 basis points and flagged a likely further hike in September as inflation soars.
The increase takes the Norges Bank’s sight deposit rate to 1.75% from 1.25%, exceeding its prior forecast in June. Norwegian inflation hit an annual 4.5% in July, up from 3.6% in June and well ahead of consensus projections for 3.8%.
This is a breaking news story, please check back later for more.
Related posts:
Taiwan to 'loosen restrictions' on Chinese tourists- The New Indian Express
Barge hits a bridge in Galveston, Texas, damaging the structure and causing an oil spill
With BRICS summit to be held in hybrid mode, questions remain over PM Modi's mode of...
Sushant Singh Rajput Fans Ecstatic After Late Actor's Film 'Chhichhore' Wins National...
Union Minister Amit Shah- The New Indian Express
Mikhail Gorbachev, reformer who changed Russia and the world, dies at 91
$90 billion in buybacks expected
Adani group says Vinod Adani is part of promoter group
Biden hopes cease-fire, hostage deal to pause Israel-Hamas war can take effect by next...
Middle Eastern funds plowing billions into the hottest AI start-ups