September 25, 2017 / 11:59 AM / 10 months ago

Norway's central bank chief: first rate hike likely near summer of 2019

OSLO (Reuters) - The Norwegian central bank’s latest forward rate path implies that a first hike will take place near the summer of 2019, Governor Oeystein Olsen told Reuters on Monday.

Norges Bank last week kept its key policy rate at a record-low 0.5 percent, while adding that an increase would come at an earlier time than had previously been forecast.

“Our way to express this is that we must get to 2019, towards the summer, before a first rate hike, implicitly by a quarter percentage point,” Olsen told Reuters on the sidelines of a conference on Monday.

Reporting by Ole Petter Skonnord, writing by Terje Solsvik, editing by Nerijus Adomaitis

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