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Norway Raises Rates to Highest in Decade to Stem Inflation

  • Norges Bank lifts key policy rate by a half-point as expected
  • Officials also foresee faster increases than projected in June
Restaurants and retail stores near Karl Johan's gate in Oslo.

Restaurants and retail stores near Karl Johan's gate in Oslo.

Photographer: Kyrre Lien/Bloomberg
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Norway’s central bank raised borrowing costs to the highest level in a decade and signaled a faster pace of future increases than earlier planned in a bid to slow surging inflation.