Norges Bank raises interest rates to 2.25% to curb inflation

Norges Bank raises interest rates to 2.25% to curb inflation

By Scott Kanosky

Investing.com – Norges Bank rose again on Wednesday, as it looks to avoid becoming “entrenched” at a high level.

The central bank raised borrowing costs by 50 basis points to 2.25%, claiming that its policy of increasing interest rates throughout 2022 had begun to have a “tightening effect” on the Norwegian economy.

“This may indicate a more gradual approach to setting interest rate policy,” she said in a statement.

Norges Bank predicted that any future rate hike would depend on the state of the economy, but added that its outlook was “more uncertain than usual”.

READ ALSO :   The Reserve Bank of India (RBI) raised interest rates by 50 basis points, lowers GDP forecast

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