Norway's central bank raised its key interest rate by 25 basis points on Thursday, as signaled during the previous meeting, and sounded more hawkish than expected with Governor Ida Wolden Bache saying that there would likely be another hike in December as inflation remains significantly above the bank's 2 percent target.
The Monetary Policy and Financial Stability Committee raised the policy rate from 4.0 to 4.25 percent.
"Whether additional tightening will be needed depends on economic developments," Bache said.
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by Jyotsna V
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