Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by Norges Bank hiked 25bps to 4% and guided that another hike was likely in September during its August meeting, bringing borrowing costs to the highest level since December 2008. The result saw the Norwegian crown rise from a six-week low against the dollar up 0.2% to 10.59, having fallen as low as 10.66 earlier. Against the euro it rose 0.3% to … Continue reading “Norway’s Norges Bank Raised Rates 25bps to 4% and Guided Another Hike Likely in September”
Norway’s Norges Bank Raised Rates by 50 bps to 3.75%, Supports Krone, Fights Inflation
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 50 bps to 3.75 percent during its June meeting, bringing borrowing costs to the highest level since December 2008. Consensus was divided with 14 expecting +25bps and 11 expecting 50bps. The result surprised markets and drove the 2-year yield up 16bps and the krone up by about 1½% to the dollar. Norges bank refreshed explicit forward guidance raised the projected terminal … Continue reading “Norway’s Norges Bank Raised Rates by 50 bps to 3.75%, Supports Krone, Fights Inflation”
Norway Hikes Interest Rate to 3.25 percent, Concerns About Weak Krone
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 25 bps to 3.25 percent during its May meeting, bringing borrowing costs to the highest level since December 2008, in line with market expectations. The Committee noted that the latest inflation readings were well above the central bank’s target of 2%. said the policy rate will need to be increased somewhat further to bring inflation in line. The bank indicated that it is … Continue reading “Norway Hikes Interest Rate to 3.25 percent, Concerns About Weak Krone”
Norway Hikes Interest Rate to 3 percent, Highest Level Since February 2009
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 25 bps to 3 percent during its March meeting, bringing borrowing costs to the highest level since February 2009, in line with market expectations. The Committee noted that the latest inflation readings were well above the central bank’s target of 2%. said the policy rate will need to be increased somewhat further to bring inflation in line. The bank had five consecutive hikes … Continue reading “Norway Hikes Interest Rate to 3 percent, Highest Level Since February 2009 “
Norway Holds Interest Rate at 2.75 percent, Signaled More Hikes Ahead
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously kept the policy benchmark interest rate at 2.75% in its January 2022 meeting, in line with market expectations, and signaled a further rate hike in the upcoming meeting. The Committee noted that the latest inflation readings were well above the central bank’s target of 2%. said the policy rate will need to be increased somewhat further to bring inflation in line. The bank had five consecutive hikes by December, … Continue reading “Norway Holds Interest Rate at 2.75 percent, Signaled More Hikes Ahead”
Norway Raised Interest Rate by 25 bps to 2.75 percent, Highest Since 2009
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 25bps to 2.75% in its December 2022 meeting, in line with market expectations, and signaled a further rate hike in the upcoming meeting. The bank has had five consecutive hikes since July, equaling the sharpest hike since 2002 and lifting the key rate to levels not seen since 2009, as the Committee noted that the latest inflation readings were well … Continue reading “Norway Raised Interest Rate by 25 bps to 2.75 percent, Highest Since 2009”
Norway Raised Interest Rate by 25bps, Norwegian Crown Fell Against Euro
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 25bps to 2.50% in its November 2022 meeting, in line with market expectations, and signaled a further rate hike in the upcoming December meeting. The bank has had four consecutive hikes since July, equaling the sharpest hike since 2002 and lifting the key rate to levels not seen since 2011, as the Committee noted that the latest inflation readings were … Continue reading “Norway Raised Interest Rate by 25bps, Norwegian Crown Fell Against Euro”
Norway Raised Interest Rate by 50bps, Norwegian Crown Fell Against Euro
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 50bps to 2.25% in its September 2022 meeting, in line with market expectations, and signaled a further rate hike in the upcoming November meeting by 25 basis points. The bank has had three consecutive 50bps hikes since July, equaling the sharpest hike since 2002 and lifting the key rate to levels not seen since 2011, as the Committee noted that … Continue reading “Norway Raised Interest Rate by 50bps, Norwegian Crown Fell Against Euro”
Norway Raised Interest Rate by 50bps with More Hikes Likely While Inflation Rampant
Norway’s central bank, the Norges Bank’s Monetary Policy and Financial Stability Committee unanimously raised the policy benchmark interest rate by 50bps to 1.75% in its August 2022 meeting, in line with market expectations, and signaled a further rate hike in the upcoming September meeting. The bank in July also rose rates by 50bp, equaling the sharpest hike since 2002 and lifting the key rate to levels not seen since 2012, as the Committee noted that the latest inflation readings were … Continue reading “Norway Raised Interest Rate by 50bps with More Hikes Likely While Inflation Rampant”