Norway Central Bank Raises Key Rate by Quarter Percentage Point to 3.25%, Sees Further Hike in June

Norway’s central bank raised its key policy rate on Thursday and said that another increase is likely next month as it battles to dampen stubbornly high inflation.

Norges Bank increased its key policy rate by 25 basis points to 3.25%, as expected, and said that with inflation still markedly above its 2% target and higher wage growth and krone depreciation keeping inflation elevated ahead, the policy rate will probably be raised in June.