Norges Bank puts interest rate up / Business / The Foreigner

The Foreigner Norges Bank puts interest rate up. 0.25 percent increase linked to increased activity in Norwegian economy. “On the whole, the upturn abroad and in Norway has, as expected, gained a firmer foothold and the outlook for next year seems less uncertain. The Executive Board has therefore decided to raise the key policy rate now,” says Deputy Governor Jan F. Qvigstad in a press release. But despite the continued sharp rise in house prices and growth in private consumption, with the unemployment rate remaining relatively low, the bank believes that petroleum investment could fall more sharply than expected. Prospects also remain uncertain, regardless of the recovery in the global economy.

norges, bank, interest, rate, increase, recovery, house, prices



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16:56:45 — Thursday, 29th July, 2010

Business Article

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Norges Bank puts interest rate up

Published on Wednesday, 16th December, 2009 at 14:56 under the business category, by Michael Sandelson.

0.25 percent increase linked to increased activity in Norwegian economy.


“On the whole, the upturn abroad and in Norway has, as expected, gained a firmer foothold and the outlook for next year seems less uncertain. The Executive Board has therefore decided to raise the key policy rate now,” says Deputy Governor Jan F. Qvigstad in a press release.

But despite the continued sharp rise in house prices and growth in private consumption, with the unemployment rate remaining relatively low, the bank believes that petroleum investment could fall more sharply than expected. Prospects also remain uncertain, regardless of the recovery in the global economy.

“The Executive Board considered the alternative of keeping the key policy rate unchanged, but interest rates are low and the October increase in the key policy rate has had a limited impact on bank lending rates.”

The increase puts the interest rate up to 1.75 percent.


Published on Wednesday, 16th December, 2009 at 14:56 under the business category, by Michael Sandelson.

This post has the following tags: norges, bank, interest, rate, increase, recovery, house, prices.

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