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OSLO, June 27: The Norwegian central bank said on Wednesday it had raised its key interest rate a quarter of a point to 4.50 per cent. The bank, in a move had been expected, said in a statement it was raising the interest rate to counter inflationary risks.
“Consumer price inflation remains moderate” but “there are nevertheless several factors indicating that inflation will pick up,” the bank said.
“Wage growth is rising and there are prospects that the economic expansion will last somewhat longer than previously envisaged.”
The increase in rates, the fourth since the beginning of the year, will take effect from Thursday. —AFP
