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”.