Norway raises interest rates, but less likely to do so again

Norway's central bank raised its main interest rate by a quarter percentage point on Thursday but said further policy tightening had become less likely amid a global slowdown that led major economies to slash borrowing costs.

Norges Bank increased its key policy rate to 1.5% from 1.25%, in line with the forecasts of 15 out of 29 economists in a Reuters poll. The remaining participants had expected an unchanged rate.

Also Read: GLOBAL MARKETS-Bond yields, stock prices supported ahead of central bank meetings