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Norway Pauses Rate Hiking But Says Another Move in March Likely
Norway’s central bank paused monetary tightening while signaling a likely quarter-point increase in borrowing costs in March is still needed to bring inflation under control. Norges Bank kept the key deposit rate on hold at 2.75% on Thursday, as forecast by the majority of economists in a Bloomberg survey. Officials said the benchmark “will most likely be raised in March,” an outlook that would chime with guidance in December that the key interest rate would increase to “around 3%” this year. “The policy rate will need to be increased somewhat further,” the central bank said. Even so, “the policy rate ... (full story)