TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    Ripple Labs Inc Floats CBDC Innovate Challenge

    June 29, 2022

    Trump-endorsed candidate clinches Republican nomination for Illinois governor

    June 29, 2022

    Pinterest has a new CEO, who has one job: to build the internet’s shopping mall

    June 29, 2022
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      Pinterest has a new CEO, who has one job: to build the internet’s shopping mall

      June 29, 2022

      Montblanc Summit 3 will be the first Wear OS 3 smartwatch for iOS

      June 29, 2022

      Gmail’s new look is about to appear for more people, even if they didn’t ask for it

      June 29, 2022

      Are Hyper’s stackable USB-C chargers melting?

      June 28, 2022

      Belkin’s MagSafe charging stand can now fast charge the Apple Watch Series 7

      June 28, 2022
    • Business
    • Cyber Security

      Hybrid work transition reveals low enterprise cybersecurity confidence

      June 28, 2022

      Ransomware in Q1 2022 doubled total 2021 volume

      June 28, 2022

      Lithuania hit by DDoS cyberattack

      June 28, 2022

      2 out of 3 European citizens welcome digital ID wallet

      June 28, 2022

      87% of executives have no cybersecurity tools on personal devices

      June 27, 2022
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Business»Norway makes surprise 50 basis point rise
    Business

    Norway makes surprise 50 basis point rise

    June 23, 2022Updated:June 23, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Norway has become the latest central bank to surprise markets with a bigger-than-expected rate rise, increasing borrowing costs by 50 basis points as it warned of the possibility of inflation moving even higher.

    Norges Bank raised interest rates by a half percentage point for the first time in almost two decades on Thursday, leaving benchmark borrowing costs at 1.25 per cent.

    “Prospects for a more prolonged period of high inflation suggest a faster rise in the policy rate than projected earlier. A faster rate rise now will reduce the risk of inflation remaining high and the need for a sharper tightening of monetary policy further out,” said Ida Wolden Bache, governor of Norges Bank.

    Most economists had expected a 25 basis point move, making policymakers in Oslo the latest to confound expectations with a bigger rise in borrowing costs to tame surging inflation.

    The US Federal Reserve raised rates by 75 basis points for the first time since 1994 earlier this month, and had been forecast to raise it by 50 basis points until just days before the meeting. Other central banks from Iceland to India that have resorted to large increases to attempt to tame inflation that is now at multi-decade highs in many economies following sharp rises in the cost of energy and food.

    In mainland Europe, the Swiss National Bank raised rates unexpectedly and by 50 basis points to minus 0.25 per cent, while the Czech National Bank earlier this week increased borrowing costs by 125 basis points to 7 per cent.

    However, unlike in most other economies in North America and Europe, Norway’s rate rises are unlikely to raise the prospect of a recession.

    As western Europe’s leading petroleum producer, Norway is enjoying an economic boom, with the central bank noting that unemployment was at a “very low level” and that there was little spare capacity.

    That boom meant Norges Bank last year became the first big western central bank to raise rates after the start of the Covid-19 pandemic. Growth is expected to remain strong this year at 3.5 per cent, though this latest estimate from the central bank is lower than forecasts made earlier in 2022.

    Most economists in Norway had banked on a smaller rise as the country had started its tightening cycle early. As more than 90 per cent of mortgages have floating interest rates, the impact of higher policy rates also has a quicker and more direct impact on the economy than elsewhere.

    But Norges Bank sounded the alarm over the prospect of even higher inflation and argued that given Norway’s tight labour market unemployment was likely to remain low.

    “Underlying inflation has picked up quickly and has been higher than projected. With rising wage growth and imported goods inflation, there are prospects that inflation will remain above the target for some time,” it added.

    Norges Bank said it was likely to raise rates at its next meeting in August and indicated that rates could be 2.25 per cent by the end of the year and 3 per cent by next summer.

    Economists at Nordea, the Nordic region’s biggest lender, called the increase “somewhat surprising”, and added: “A view for higher inflation for longer is the main reason for this hawkish move from Norges Bank.”

    Norway is receiving record income from oil and in particular gas as other European countries seek an alternative to Russian petroleum. Its economy also benefits from regular inflows from the world’s largest sovereign wealth fund worth $1.2tn.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Trump-endorsed candidate clinches Republican nomination for Illinois governor

    June 29, 2022 Business

    China’s Marxism majors prosper amid labour market woes

    June 29, 2022 Business

    Disney board renews chief executive Bob Chapek’s contract for 3 years

    June 29, 2022 Business

    US FDA panel recommends redesign of Covid vaccine to target Omicron variant

    June 28, 2022 Business

    Finland and Sweden poised to join Nato after Turkey drops veto

    June 28, 2022 Business

    Ghislaine Maxwell sentenced to 20 years for aiding Jeffrey Epstein’s abuse

    June 28, 2022 Business
    Editors Picks

    Trump-endorsed candidate clinches Republican nomination for Illinois governor

    June 29, 2022

    Pinterest has a new CEO, who has one job: to build the internet’s shopping mall

    June 29, 2022

    China’s Marxism majors prosper amid labour market woes

    June 29, 2022

    Montblanc Summit 3 will be the first Wear OS 3 smartwatch for iOS

    June 29, 2022
    Trending Now

    Belkin’s MagSafe charging stand can now fast charge the Apple Watch Series 7

    By techbizweb

    Ghislaine Maxwell sentenced to 20 years for aiding Jeffrey Epstein’s abuse

    By techbizweb

    Android 13’s Easter egg is a delightful kaleidoscope of emoji

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2022 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.