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Norwegian economic growth: oil investment strengthens interest rate hike expectations

 Last Update: 2022-11-26
 Source: Internet
 Author: User

Tags

oil

pension interest rate

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According to Reuters on August 23, two reports released by Statistics Norway (SSB) on Thursday showed that Norway's basic growth momentum in the second quarter remained strong, and next year may further boost investment plans
in the oil industry.

Economists said the highly anticipated data provided support
for the central bank's plans to begin tightening monetary policy next month.
That would be the first time in seven years that Norwegian interest rates have risen
from a record low of 0.
5 percent.

Non-oil gross domestic product rose 0.
5 percent in the second quarter from the first quarter, dragged down by lower hydroelectric dam capacity but still in line with expectations from analysts polled by Reuters
.

petroleum

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