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Central bank of Norway increases rates.

Global Banking News-17 December 2009-Central bank of Norway increases rates(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 17 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

The central bank of Norway has unexpectedly increased its rates.

The central bank has unexpectedly hiked its rates to 1.75 per cent. The hike caught many analysts by surprise because most analysts had expected the bank to keep its rates steady.

Norges Bank raised the policy rate by 0.25 percentage point to 1.75%.

In a statement the central bank said, 'The executive board considered the alternative of keeping the key policy rate unchanged, but interest rates are low and the October increase in the key policy rate has had a limited impact on bank lending rates.'

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Publication:Global Banking News (GBN)
Date:Dec 17, 2009
Words:154
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