Norwegian central bank raises interest rate by 0.5 pct

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Norwegian central bank raises interest rate by 0.5 pct

STORY: Norwegian central bank raises interest rate by 0.5 pct DATELINE: June 23, 2023 LENGTH: 00:01:26 LOCATION: Oslo CATEGORY: ECONOMY SHOTLIST: 1. various of the Norges Bank (Norwegian central bank) 2. press conference held in Norges Bank to declare the decision for raising interest rate STORYLINE: Norway's central bank, Norges Bank, has decided to raise the policy interest rate by 0.5 percentage points to 3.75 percent following markedly high inflation in Norway. "(Norges Bank's Monetary Policy and Financial Stability Committee) judges that a higher policy rate than previously signaled is needed to bring inflation down to target," the Norwegian central bank said in a statement on Thursday. "Inflation has been markedly higher than projected in the March Report. International interest rates have risen more than anticipated. Higher wage growth and a weaker (Norwegian) krone than projected earlier will push up inflation ahead," read the statement. In Norway, prices have increased for a range of g

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