Norway to keep rates on hold this week, may hike in December: Reuters poll

SaltWire's Atlantic regional weather forecast for October 30, 2023 | SaltWireOSLO - Norway's central bank is expected to keep its key policy interest rate on hold this week but could hike borrowing costs again by the end of the year to help rein in inflation and support the country's faltering currency, a Reuters poll showed.

For the December meeting, the final one of the year, 16 economists predicted a hike to a peak rate of 4.50%, while 12 of those polled expected no change from the current 4.25%. One economist forecast a rate of 4.75%. On the other hand, the Norwegian crown currency has resumed a weakening trend against the euro and the dollar, causing concern this may again stoke inflation as imports become more expensive.

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