Norway's central bank raises policy rate by 25 basis points

Norges Bank's monetary policy committee raised the policy rate from a record low of zero to 0.25 percent, in line with the forecasts of analysts polled by Reuters and in line with the central bank's plan.

"Based on the committee's current outlook and assessment of the risk balance, the policy rate will likely be raised further in December," Norges Bank Chairman Oeystein Olsen said in a statement. said.

The monetary policy committee announced that the policy rate will be increased four more times to 1.25% by the end of 2022.

CURRENCY DECREASE

The euro/Norwegian krone rate, which was at 10.1031 before the announcement, dropped to 10.0786.