Norges Bank Signals Rate Hike Ahead To Rein In Inflation

India, Nov. 5 -- Norway's central bank left the key interest rate unchanged on Thursday, but signaled policymakers' readiness to raise interest rates in future as they assessed inflation as too high.

The Monetary Policy and Financial Stability Committee of the Norges Bank decided to keep the policy rate unchanged at 4.5 percent, as expected. Previously, the bank raised the rate by 25 basis points in September.

"Inflation is too high," Norges Bank Governor Ida Bache said. "It will likely be necessary to keep the policy rate elevated for a time, and we are prepared to raise the policy rate if needed to bring inflation down to target within a reasonable time horizon."

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Published by HT...