Norway central bank hikes rate by 25 basis points

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Norway's central bank raised its benchmark interest rate by 25 basis points (bps) to 2.50% on Thursday.

"Economic activity is high in Norway, and unemployment is at a historically low level. Inflation has continued to edge higher and is markedly above our target of 2 percent. We are raising the policy rate to curb inflation," the governor of the bank, Ida Wolden Bache said.