Norges Bank’s Monetary Policy and Financial Stability Committee has unanimously decided to raise the policy rate by 0.5 percentage point to 2.25 percent. Based on the Committee’s current assessment of the outlook and the balance of risks, the policy rate will most likely be raised further in November. Inflation has risen rapidly over the past months and has been far higher than projected. The labour market is tight, but there are now clear signs of a cooling economy. Easing pressures in the economy will contribute to curbing inflation further out. “Inflation is markedly above our target of 2 percent, and there are ... (full story)