Financial Times FT.com

Rebounding Norway lifts rates

By Andrew Ward in Stockholm and Ralph Atkins in Frankfurt

Published: October 28 2009 13:31 | Last updated: October 28 2009 18:35

Norway on Wednesday became the first western European country to raise interest rates since the financial crisis as its central bank reported “signs of renewed growth” in the global economy.

The Norges Bank lifted its main rate by 25 basis points to 1.5 per cent and signalled more increases ahead in a move that highlighted the shift towards higher official borrowing costs as the world economy stabilises.

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