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”