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MNI BRIEF: Norges Hikes, Ups Rate Forecast To 2.5% In 2024

(MNI) London

Norges Bank delivered its expected 25-basis-point rate hike at its March meeting, lifting its policy rate to 0.75%, and lifted its collective rate forecast.

The policy rate was projected to rise to 2.5% in 2024, up 0.8 percentage point from the previous quarterly forecast, and to dip to 2.4% by 2025, the final year of the forecast. Policymakers warned that if there were "prospects of persistently high inflation, the policy rate may be raised more quickly."

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com

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