Reported 8 months ago
Norway's central bank, Norges Bank, announced its decision to hold the benchmark deposit rate at 4.5% for the rest of 2024 to combat concerns over persistent inflation. This move deviates from other economies like the US, Sweden, and the Eurozone, signaling a more hawkish stance. The Norwegian economy's performance and expected wage growth have influenced this decision, with Norges Bank projecting a slight increase in inflation and economic growth compared to previous forecasts. The Norwegian krone strengthened following the announcement, affirming market confidence in Norges Bank's cautious approach.
Source: YAHOO