No Norges Bank interest hike for now / News / The Foreigner

No Norges Bank interest hike for now. Norges Bank’s Executive Board decided not to raise interest rates above their current two percent level at today’s monthly meeting. Although analyses indicate rises will be likely sometime next year the world economic outlook is still highly uncertain, with increases in international interest rates now temporarily deferred. Long-term interest rates are also very low. “Consumer price inflation has been lower than expected and inflation is projected to remain at around 1½ per cent in the period to summer 2011. At the same time, growth in the Norwegian economy is continuing at a moderate pace”, says Governor Svein Gjedrem in a press release.

svein, gjedrem, norges, bank, interest, rate, levels, unchanged, economic, outlook, norwegian, economy



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No Norges Bank interest hike for now

Published on Wednesday, 27th October, 2010 at 20:53 under the news category, by Michael Sandelson   .

Norges Bank’s Executive Board decided not to raise interest rates above their current two percent level at today’s monthly meeting.

Norges Bank main entrance
Norges Bank main entrance
Photo: Norges Bank


Although analyses indicate rises will be likely sometime next year the world economic outlook is still highly uncertain, with increases in international interest rates now temporarily deferred. Long-term interest rates are also very low.

“Consumer price inflation has been lower than expected and inflation is projected to remain at around 1½ per cent in the period to summer 2011. At the same time, growth in the Norwegian economy is continuing at a moderate pace”, says Governor Svein Gjedrem in a press release.

Provided there are no new, major shocks to the Norwegian economy, the Executive Board says its strategy is not to raise rates above 2.5 percent until the publication of the next Monetary Policy Report in the middle of March 2011.



Published on Wednesday, 27th October, 2010 at 20:53 under the news category, by Michael Sandelson   .

This post has the following tags: svein, gjedrem, norges, bank, interest, rate, levels, unchanged, economic, outlook, norwegian, economy.





  
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