Norway central bank makes largest rate hike in 20 years ...Middle East

Norway's central bank raised its benchmark interest rate by 50 basis points on Thursday, the largest single hike since 2002 and twice as much as expected by most economists, and plans to hike again in August as the country seeks to control inflation. Norges Bank's monetary policy committee raised the sight deposit rate to 1.25% from 0.75%, exceeding its own forecast made in March of a hike to 1.0%.

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