Business News
Norwegian central bank holds rate at 1.25 per cent
Sep 23, 2009, 13:43 GMT
Oslo - Norway's central bank on Wednesday kept its benchmark interest rate at 1.25 per cent, saying that was the 'appropriate' level.
The Norwegian economy had overall 'fared well through the financial crisis,' the central bank said noting that 'high activity in the oil industry' as well as monetary and fiscal policy measures had helped keep up demand for goods and services.
In addition, underlying inflation was close to its target while unemployment was lower than projected.
The bank's most recent cut, of 0.25 prcentage points, was June 17.
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