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Hikes 50bp As Expected, Statement Link

NORGES BANK

Norges Bank raises the policy rate by 50bp to 1.75% as expected. Statement link:

  • "Norges Bank’s Monetary Policy and Financial Stability Committee has decided to raise the policy rate by 0.5 percentage point to 1.75 percent. Based on the Committee’s current assessment of the outlook and balance of risks, the policy rate will most likely be raised further in September."
  • "Inflation has been considerably higher than projected and markedly above the 2 percent target. Activity in the Norwegian economy is high, with little spare capacity. Unemployment has fallen a little more than expected and is at a very low level."
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