Business News
Norwegian central bank raises key lending rate to 2.25 per cent
May 12, 2011, 12:46 GMT
Oslo - Norway's central bank Thursday raised its benchmark interest rate by 25 points to 2.25 per cent, the first hike in a year.
The move had been expected by analysts.
'The upturn in the Norwegian economy has gained a firm footing,' Governor Oystein Olsen said in a statement.
The bank said that while inflation is low, there are signs it will pick up during the year.
The rate hike was effective as of Friday.
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