The Norwegian central bank joined several of its peers in delivering a bigger than expected 50 basis point hike on Thursday amid the woes of high inflationary pressures and policymakers hinted that there will be another rate hike in August.
The Monetary Policy and Financial Stability Committee unanimously decided to raise the policy rate from 0.75 percent to 1.25 percent, Norges Bank said in a statement. Economists had expected a raise to 1.00 percent.
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