ARENDAL, NORWAY: Norway's central bank held its policy interest rate unchanged at a 16-year high of 4.50 per cent on Thursday, as unanimously expected by analysts in a Reuters poll, and said a tight stance will likely be needed for some time to combat inflation.
"Based on our current assessment of the outlook, the policy rate will likely be kept at the current level for some time ahead," Norges Bank Governor Ida Wolden Bache said in a statement.
The Norwegian crown weakened to 11.79 against the euro at 0806 GMT, from 11.76 just before the announcement.