Norges Bank Raises Key Rate by 0.25% to Combat Inflation, First European Country Since Middle East War
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Norges Bank decided to raise its key interest rate by 0.25% to 4.25% to curb inflation, making it the first European country to do so since the outbreak of the Middle East war. Norway's inflation rate is above target, and rising oil and gas prices due to the Middle East situation are considered a further inflation risk.