OSLO: Norway's central bank kept interest rates on hold at 0.75 percent on Thursday, as expected, and repeated an outlook for gradual hikes from the first quarter next year amid faster economic growth and higher inflation.
Norges Bank hiked rates for the first time in seven years in September and said rates would most likely rise further in the first quarter next year.
"Economic growth has been a little lower and inflation somewhat higher than projected, but the outlook and the balance of risks do not appear to have changed substantially since the September report," the bank said in a statement.
"The outlook and balance of risks imply a gradual increase in the key policy rate," it added.
Norway's currency, the crown, strengthened slightly after the announcement, trading at 9.5044 against the euro at 0813 GMT from 9.5191 earlier.
The bank's decision was unanimous and as expected by economists polled by Reuters.
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