Norway's Inflation Hits Target, Rate Hikes Expected

Norways core inflation reaches 3.2% in April, surpassing the previous months 3% and aligning with economists predictions. Norges Bank raises its policy rate by a quarter percent to 4.25%, aiming to combat escalating wages and persistent energy costs. Despite the rate increase, the Norwegian crown remains stable against the euro. Central bank governor Ida Wolden Bache indicates no significant rate jumps are anticipated, with analysts predicting no change at the June 18th meeting but expecting another hike later in the year to steer inflation towards the 2% target. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e4e9d1fedae3c964