Norway’s central bank raises rates sharply to control inflation | app
COPENHAGEN, Denmark (AP) — Norway’s central bank raised its key rate by half a percentage point on Thursday, saying “inflation was significantly higher than expected.”
The rise in the rate to 1.75% was larger than expected, as the bank is targeting inflation, which reached 6.8% in July. He noted that unemployment is very low, falling more than expected last month to 3.2%, and “activity in the Norwegian economy is high.”
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