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MNI BRIEF: Norges Bank Hikes 25 bps; Sees Another Hike In Dec

(MNI) Oslo

Norges Bank hiked its policy rate as expected from zero percent to 0.25% at its September meeting with Governor Oystein Olsen saying that the rate "will most likely be raised further in December." That December hike was not fully factored into the previous forecast.

The central bank, however, only nudged up its interest rate curve. The end point of the rate projection in 2024 was 1.6%, up just 0.1 basis point on its previous projection, with the policy rate projected at 0.9% in 2022 and 1.4% in 2023, both up just 0.1%.

Norges Bank becomes the first developed nation central bank to hike rates as economies start to recover from the global pandemic.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Central Bank NewsPolicy NewsHomepageBriefNorges Bank Market NewsCEEMEANorges BankNorwayStoryRegion
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Central Bank NewsPolicy NewsHomepageBriefNorges Bank Market NewsCEEMEANorges BankNorwayStoryRegion
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