Norway Core Prices Cool, Likely Reducing Pressure for Rate Hike

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Core inflation in Norway, which excludes energy prices, eased to 2.7 percent in October, down from 3.0 percent in September. The decline was expected and is based on moderate price increases for food and imported goods. This dampens the likelihood of further increases in the policy rate from Norges Bank this year. However, the rate of wage growth in Norway remains high and high energy prices resulting from the war in the Middle East create a ris…

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Norges Bank decided to keep its key interest rate unchanged at 4.50%.