( ) -q-20- UNDATED (Correspondent Jeremy House) “back to target.” Norway’s central bank says it’s raising its key interest rate by a quarter-percentage point to combat high inflation. [CutID: <Cuts> NORWAY-INTEREST-RATE-house-q-THUam.mp3 Time: 20s Title: NORWAY-INTEREST-RATE-house-q-THUam Out-cue: back to target] TAG: Correspondent Jeremy House reporting. The head of the bank says the rate would most likely […]
Audio
Norway raises key interest rate again to fight inflation
( ) -q-20- UNDATED (Correspondent Jeremy House) “back to target.”
Norway’s central bank says it’s raising its key interest rate by a quarter-percentage point to combat high inflation.
[CutID: <Cuts> NORWAY-INTEREST-RATE-house-q-THUam.mp3
Time: 20s
Title: NORWAY-INTEREST-RATE-house-q-THUam
Out-cue: back to target]
TAG: Correspondent Jeremy House reporting. The head of the bank says the rate would most likely be raised again next month. Central banks worldwide have been raising borrowing costs to target price spikes fueled by the economic rebound from the pandemic and then Russia’s war in Ukraine.
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VERBATIM: Norges Bank is hiking the rate to 4%, the highest level in Norway since 2008. It says inflation — which reached 5.4% in July — ”has edged down but remains high and markedly above the target” of 2%. The bank added that “a somewhat higher policy rate is needed to bring inflation back to target.”