Norway’s central bank raises key policy interest rate
3 years ago

Norway’s central bank raises key policy interest rate

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank announced Thursday that it raised its key policy interest rate from 0.25% to 0.5%, citing the upswing in the economy that it said was likely to continue. But if economic developments evolve broadly in line with the projections, the policy rate will most likely be raised in March,” Norges Bank Governor Oeystein Olsen said Thursday. News of the rate increase, which takes effect Friday, comes the same day other central banks issued mixed decisions amid high inflation and worries about the new omicron variant of the virus. The Bank of England also raised interest rates, while European Central Bank took a cautious approach on phasing out its pandemic stimulus.

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History of this topic

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade
1 month, 2 weeks ago

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade

Associated Press  

STOCKHOLM — Sweden’s central bank on Thursday cut its key interest rate by half a percentage point to 2.75% in what was described as the largest reduction over a decade. Riksbanken said the cut, the fourth this year, was “to provide further support to the economy and help inflation stabilize at the target.” It added that “if the outlook for …

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade
1 month, 2 weeks ago

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sweden’s central bank on Thursday …

Financial markets are jonesing for interest rate cuts. Not so fast, says the European Central Bank
11 months ago

Financial markets are jonesing for interest rate cuts. Not so fast, says the European Central Bank

Associated Press  

FRANKFURT, Germany — European Central Bank President Christine Lagarde pushed back Thursday against market expectations for quick interest rate cuts even as Europe’s economy sputters and financial markets froth in hopes of cheaper credit that would boost business activity and stock prices. was that it was premature to discuss rate cuts.” Financial markets have been expecting a cut as early …

Sweden’s central bank hikes key interest rate, saying inflation is still too high
1 year, 3 months ago

Sweden’s central bank hikes key interest rate, saying inflation is still too high

Associated Press  

STOCKHOLM — Sweden’s central bank raised its key interest rate Thursday, saying that “inflationary pressures in the Swedish economy are still too high,” although there were signs that inflation had begun to fall. But the bank added that “inflation pressures are still too high,” noting that service prices are still rising rapidly and Sweden’s currency, the krona, is “unjustifiably weak.” …

Norway raises key interest rate to fight inflation and expects further hikes ahead
1 year, 6 months ago

Norway raises key interest rate to fight inflation and expects further hikes ahead

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank said Thursday that it has raised its key interest rate by half a percentage point in an effort to “bring inflation down to target.” Norges Bank said higher wage growth and a weaker-than-projected krone will raise inflation and that “international interest rates have risen more than anticipated.” The Scandinavian country, which is not part …

European Central Bank hikes rates, vows ‘we are not done’
1 year, 10 months ago

European Central Bank hikes rates, vows ‘we are not done’

Associated Press  

FRANKFURT, Germany — The European Central Bank chugged ahead with another outsized interest rate hike Thursday and vowed more will follow, underlining its drive to subdue inflation even as the economy slows and the U.S. Federal Reserve eases its pace of increases. The bank, which also hiked by a half-point in December, “will stay the course in raising interest rates …

Bank of England hikes interest rates again but softens pace
2 years ago

Bank of England hikes interest rates again but softens pace

Associated Press  

LONDON — Britain’s central bank on Thursday raised its key interest rate again but toned down the pace as inflation shows signs of easing, mirroring action by the U.S. Federal Reserve and European policymakers. Should that scenario play out, further rate increases may be needed to get inflation back to its 2% target, the bank said, adding that it “will …

Norway central bank raises key rate to fight inflation
2 years ago

Norway central bank raises key rate to fight inflation

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank Thursday raised its key interest rate by a quarter-percentage point, saying the move was “still needed to dampen inflation.” Norges Bank said inflation — which reached 6.5% in November — has “risen rapidly” and “is markedly above target.” The hike, which brought its key policy rate to 2.75%, was a slower pace than the …

Swiss National Bank hikes key interest rate in line with Fed
2 years ago

Swiss National Bank hikes key interest rate in line with Fed

Associated Press  

GENEVA — The Swiss National Bank raised its key interest rate Thursday, as other central banks in Europe are starting to follow the playbook of the U.S. Federal Reserve in a bid to tame inflation. The bank says it can’t rule out further steps to make borrowing more expensive, pointing to slowing global economic growth and a world “subject to …

Sweden’s big interest rate hike follows other central banks
2 years, 1 month ago

Sweden’s big interest rate hike follows other central banks

Associated Press  

STOCKHOLM — Sweden’s central bank followed other central banks in undertaking a big increase to its key interest rate to combat inflation, saying Thursday that high prices are undermining people’s purchasing power and making it tough for households and companies to plan their finances. Riksbanken said the hike of three-quarters of a percentage point pushes the key rate to 2.5% …

European Central Bank leader doubles down on rate increases
2 years, 1 month ago

European Central Bank leader doubles down on rate increases

Associated Press  

FRANKFURT, Germany — The head of the European Central Bank underlined the bank’s determination to fight rampant inflation with more interest rate increases on top of record hikes, saying Friday that “our job is far from being completed” and that even a mild recession would not be enough to bring rising prices back under control. ECB President Christine Lagarde said …

Bank of England raises rates but avoids bolder hike like Fed
2 years, 3 months ago

Bank of England raises rates but avoids bolder hike like Fed

Associated Press  

LONDON — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. The decision “suggests the Bank of England is concerned about the UK’s economic …

Central banks worldwide tighten policies to cool inflation
2 years, 3 months ago

Central banks worldwide tighten policies to cool inflation

Associated Press  

The U.S. Federal Reserve has been the most aggressive in using interest rate hikes to cool inflation that is battering both households and businesses this year. Following are actions taken Thursday, and also earlier this week, by central banks globally: Turkey: The Central Bank of the Republic of Turkey lowered the benchmark rate by 1 percentage point, to 12%. United …

Bank of England hikes interest rates but avoids more aggressive step
2 years, 3 months ago

Bank of England hikes interest rates but avoids more aggressive step

The Hindu  

Britain’s central bank raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but it avoided more aggressive steps to tame inflation that the U.S. Federal Reserve and other banks have taken. The U.K. decision comes during a busy week for central bank action marked by much more aggressive moves to bring down …

Norway central bank raises key rate to fight inflation
2 years, 3 months ago

Norway central bank raises key rate to fight inflation

Associated Press  

COPENHAGEN, Denmark — Norway’s central bank on Thursday raised its key policy interest rate by a quarter-percentage point to 2.25%, as other banks around the world also move to bring down inflation. Norges Bank said inflation — which reached 6.5% in August — “has risen rapidly over the past months and has been far higher than projected.” “Inflation is markedly …

Sweden’s central bank hikes key interest rate by full point
2 years, 3 months ago

Sweden’s central bank hikes key interest rate by full point

Associated Press  

COPENHAGEN, Denmark — Sweden’s central bank on Tuesday raised its key interest rate by a full percentage point to combat the highest inflation in more than 30 years, the first of a series of large hikes expected from central banks worldwide this week. Riksbanken said inflation has risen rapidly — to 9% in August, the highest level since 1991 — …

European Central Bank chief signals possible July rate hike
2 years, 7 months ago

European Central Bank chief signals possible July rate hike

Associated Press  

FRANKFURT, Germany — The president of the European Central Bank on Monday gave the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation. In a blog post on the Frankfurt, Germany-based bank’s website, President Christine Lagarde said she expects asset purchases that buoy the economy would end “very early in …

Sweden’s central bank raises interest rate to hit inflation
2 years, 7 months ago

Sweden’s central bank raises interest rate to hit inflation

Associated Press  

STOCKHOLM — Sweden’s central bank on Thursday raised a key interest rate from zero to 0.25%, citing the highest inflation level since the 1990s. “Since the turn of the year, inflation excluding energy has also risen rapidly and has been significantly higher than the Riksbank’s forecast in February,” the central bank said in a statement. “The outcomes indicate that the …

European Central Bank gives no clear date for rate hikes
2 years, 8 months ago

European Central Bank gives no clear date for rate hikes

Associated Press  

The head of the European Central Bank reiterated Thursday that the bank would raise interest rates “some time after” ending its pandemic stimulus efforts later this year, sticking to a gradual path even as the United States, United Kingdom and other countries take a harder line to combat soaring consumer prices. Bank President Christine Lagarde, who previously opened the door …

UK raises interest rates as central banks focus on inflation
3 years ago

UK raises interest rates as central banks focus on inflation

Associated Press  

LONDON — The United Kingdom’s central bank on Thursday became the first in a major advanced economy to raise interest rates since the coronavirus pandemic began, as banks controlling monetary policy around the globe shift their focus from stimulating the economy to combating soaring consumer prices that arrived during the recovery. European Central Bank President Christine Lagarde also acknowledged what …

Bank of England hikes interest rates to combat surging inflation
3 years ago

Bank of England hikes interest rates to combat surging inflation

CNN  

London CNN Business — The Bank of England is hiking interest rates in an effort to fight surging prices even as the Omicron variant engulfs the United Kingdom and threatens to put the economy into reverse. The central bank’s Monetary Policy Committee said Thursday that it would raise interest rates from the record low of 0.1%to 0.25%,the first such move …

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