Norway's central bank lifted the benchmark rate by a steeper-than-expected 50 basis points and hinted at another increase in August as higher wage growth and a weaker currency are set to push inflation higher in coming months.
The Monetary Policy and Financial Stability Committee of Norges Bank decided to hike the policy rate to 3.75 percent from 3.25 percent. Economists were looking for a quarter-point raise.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.