Norway to Raise Interest Rates Next Month

The Central Bank of Norway plans to begin tightening its monetary policy as soon as next month.

The Norges Bank plans to raise interest rates in September after the Norwegian economy showed more signs of a rebound with the ease of coronavirus lockdown restrictions.

As the bank decided to maintain its main rate at 0% on Thursday, in line with market expectations, it said that an interest rate hike is most likely in the September meeting.

In June, the central bank revealed a roadmap to begin raising interest rates by 25 basis points every quarter next year.