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Norway Central Bank Retains Key Rate

Norway's central bank maintained its key rate, as widely expected, and signaled that the rate will remain at the current level in months ahead.

The Executive Board decided to keep the policy rate unchanged at 1.50 percent.

The bank had earlier changed the rate in September, when it was lifted by a quarter point.

"The Executive Board's current assessment of the outlook and balance of risks suggests that the policy rate will most likely remain at the current level in the coming period," Governor Øystein Olsen, said.

The policy rate forecast was broadly unchanged from the September Report.

The outcome of the meeting was no big surprise and the Nordic central bank may still raise interest rates next year if the domestic economy does well and NOK is not overly strong, Petr Krpata, an ING economist, said.

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