Norway’s central financial institution hikes charges by 50 foundation factors

A pedestrian passes the closed entrance to the headquarters of Norges Financial institution, also referred to as the central financial institution, in Oslo, Norway, on Wednesday, Oct. 29, 2014.

Krister Soerboe/Bloomberg | Bloomberg | Getty Photos

Norway’s central financial institution on Thursday hiked its benchmark rate of interest by 50 foundation factors and flagged a probable additional hike in September as inflation soars.

The rise takes the Norges Financial institution’s sight deposit fee to 1.75% from 1.25%, exceeding its prior forecast in June. Norwegian inflation hit an annual 4.5% in July, up from 3.6% in June and effectively forward of consensus projections for 3.8%.

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