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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by Renju Jaya
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