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MNI (London)
     LONDON (MNI) - The Norges Bank has kept its key policy rate unchanged at
0.50%, assessing with the Executive Board assessing rates will most likely be
hiked 'after Summer 2018'.
     The full text of the Norges Bank statement follows.
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     KEY POLICY RATE UNCHANGED AT 0.5 PERCENT 
     Norges Bank's Executive Board has decided to keep the key policy rate
unchanged at 0.50 percent.
     In the March 2018 Monetary Policy Report, the Executive Board's assessment
was that the economic upturn was continuing and that the output gap in the
Norwegian economy was closing. Underlying inflation was low, but rising capacity
utilisation was expected to push up price and wage inflation further out. The
Executive Board's assessment of the outlook and balance of risks suggested that
the key policy rate would most likely be raised after summer 2018.
     The Executive Board's assessment is that the upturn in the Norwegian
economy appears to be continuing broadly in line with the picture presented in
the March Report. Underlying inflation is below the inflation target, but the
driving forces indicate that it will rise.
     "The outlook and the balance of risks do not appear to have changed
substantially since the March Report. This suggests keeping the key policy rate
unchanged at this meeting", says Governor Oystein Olsen.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$E$$$,M$X$$$,M$$EC$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com