Norway's central bank hikes rates 50 basis points, krone rallies
Norway’s central bank on Thursday lifted interest rates by 50 basis points and said a further hike may be needed in the near term.
“The Committee’s current assessment of the outlook and balance of risks implies that the policy rate will most likely be raised further in August,” Norges Bank said in a statement on its website.The central bank is hemmed in by sticky inflation, with core inflation climbing to 6.7% in May from 6.5% in April, defying expectations for a gain of just 6.3%, according to analysts polled by Bloomberg News.
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