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Norges Bank Proves Its Hawk Status as Rate Hike Moves Closer

Norway's central bank in Oslo.

Norway's central bank in Oslo.

Photographer: Odin Jaeger/Bloomberg
Updated on

Norway’s central bank brought forward the timing of what will probably be the rich world’s first cycle of interest rate hikes since the pandemic broke out.

The Oslo-based bank, which kept its main rate unchanged at zero on Thursday, as predicted, said it now expects to start raising its benchmark deposit rate in the “latter half” of this year.