Norway Central Bank Maintains Interest Rates Amid Inflation Concerns

Norway's central bank held its policy interest rate steady at 4.50%, its highest in 16 years, as expected by analysts. Governor Ida Wolden Bache stated that the tight policy stance will likely continue to address inflation. The Norwegian crown weakened against the euro following the announcement.

Norway's central bank has decided to keep its policy interest rate unchanged at a 16-year peak of 4.50%, aligning with analyst expectations, to tackle rising inflation.

"Based on our current assessment of the outlook, the policy rate will likely be kept at the current level for some time ahead," stated Norges Bank Governor Ida Wolden Bache.

The Norwegian crown declined to 11.79 against the euro, down from 11.76 just prior to the announcement.

(With inputs from agencies.)