India, May 3 -- The Norwegian central bank maintained its key interest rate for the third straight decision on Friday, as the current stance is needed for some time ahead in order to bring inflation back to the target within a reasonable time horizon.
The Monetary Policy and Financial Stability Committee, headed by Governor Ida Bache, decided to keep the policy rate at 4.50 percent, Norges Bank said in a statement.
The previous change in the rate was a 0.25 percent hike in December.
"Based on the Committee's current assessment of the outlook, the policy rate will likely be kept at today's level for some time ahead," Governor Ida Wolden Bache said.
The bank board observed that monetary policy is now having a tightening effect as the grow...