Following the results of the meeting in March, Norges Bank decided to raise the key interest rate from 0.75% to 1% per annum. This is the second rate increase since September last year. Until September, there have been no changes for seven years. The message from the Central Bank states that the bank is likely to raise the rate again within the next 6 months, based on its current assessment of the forecast and the balance of risks. The Central Bank intends to continue to increase the cost of lending against the background of stable growth of the country's economy, which is ahead of many European countries. Economic growth in Norway is supported by higher oil prices. Unemployment is below 4%. Core inflation has almost reached the target level of the Bank of Norway - 2%.
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