Norway must prevent high inflation from becoming entrenched -central bank chief

Reuters
·1 min read
Norges Bank Governor Ida Wolden Bache holds news conference at the bank's headquarters in Oslo

ARENDAL, Norway (Reuters) - Norway's central bank is now raising rates more quickly than it had planned in June in order to avoid a longer period of high inflation, Norges Bank Governor Ida Wolden Bache said on Thursday.

The central bank earlier raised its benchmark interest rate by 50 basis points (bps), twice the amount flagged in June, lifting it to 1.75%, the highest level in a decade.

"We could have decided to raise the policy rate more gradually. But then we would have run the risk of inflation becoming entrenched at a high level," Bache said in a speech.

"That would have made it more difficult to bring inflation down and could have required a sharper tightening of monetary policy somewhat further out, increasing the risk of an economic downturn," she said.

(Reporting by Victoria Klesty, writing by Terje Solsvik)

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • The Williams Companies, Inc. (NYSE:WMB) Q1 2024 Earnings Call Transcript

    The Williams Companies, Inc. (NYSE:WMB) Q1 2024 Earnings Call Transcript May 7, 2024 The Williams Companies, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day, and thank you for standing by. Welcome to The Williams First Quarter 2024 […]

  • Saratoga Investment Corp. (NYSE:SAR) Q4 2024 Earnings Call Transcript

    Saratoga Investment Corp. (NYSE:SAR) Q4 2024 Earnings Call Transcript May 7, 2024 Saratoga Investment Corp. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Saratoga Investment Corp’s 2024 Fiscal […]

  • OrthoPediatrics Corp. (NASDAQ:KIDS) Q1 2024 Earnings Call Transcript

    OrthoPediatrics Corp. (NASDAQ:KIDS) Q1 2024 Earnings Call Transcript May 7, 2024 OrthoPediatrics Corp. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning. Welcome to OrthoPediatrics Corporation’s First Quarter 2024 Earnings Conference Call. At this time, all participants are on […]

  • Stock market today: Dow extends winning streak to 6 days

    While techs have mainly delivered on high earnings expectations, the focus is now on whether other sectors can match up.

  • Journalists named in Harry’s court action against publisher

    No findings have been made in respect of the allegations and the legal claims are in the preliminary stages.

  • Airbnb posts higher profits on global travel demand

    Shares of the company were up 3% after the bell. Accommodation companies in the first quarter have seen the demand for travel in regions outside of North America boost earnings as travel accelerates in Asia Pacific and Latin America. The company said it expects to see steady growth throughout 2024, spurred by travel demand centered around international events.

  • UPDATE 1-Airbnb posts higher profits on global travel demand

    Vacation rental company Airbnb reported a higher quarterly profit on Wednesday, boosted by an increase in travel in international markets as North American bookings decelerated during the period. Accommodation companies in the first quarter have seen the demand for travel in regions outside of North America boost earnings as travel accelerates in Asia Pacific and Latin America. The company said it expects to see steady growth throughout 2024, spurred by travel demand centered around international events.

  • Adidas is having a massive sale right now: Save up to 50% on iconic styles — NMD, Stan Smith and more

    Hurry while sizes and styles are still in stock!

  • How a Texas man is testing out-of-state abortions by asking a court to subpoena his ex-partner

    A Texas man is petitioning a court to authorize an obscure legal action to find out who allegedly helped his former partner obtain an out-of-state abortion, setting up the latest test of the reach of statewide abortion bans. As some states work to expand abortion access and others impose more limits following the U.S. Supreme Court’s overturning of Roe V. Wade, antiabortion activists have begun testing the boundaries of statewide bans in court. Abortion advocates call these legal actions a scare tactic, and stress that crossing state lines to obtain an abortion remains legal.

  • Grimethorpe: Bomb squad called and more than 100 homes evacuated after 'suspicious items' found

    More than 100 homes have been evacuated as an army bomb disposal team was deployed to the area after "a number of suspicious items" were found at a property. About 130 homes were being evacuated, the force said - with affected residents told they may be out of their properties for 48 hours. "Anyone evacuating is asked to pack a bag with all the essentials you may need for the next couple of days," a police spokesman said.

  • Malawians who abandoned Israeli farms deported

    They went to Israel as part of a deal to provide agricultural workers after the 2023 Hamas attacks.

  • Can Corbin Carroll keep up momentum after early season slump? | Baseball Bar-B-Cast

    Yahoo Sports senior MLB analyst Jordan Shusterman and senior MLB analyst Jake Mintz discuss how Corbin Carroll is making adjustments to his swing and seeing more success at the plate for the Arizona Diamondbacks. Hear the full conversation on the “Baseball Bar-B-Cast” podcast - and subscribe on Apple Podcasts, Spotify or wherever you listen.

  • Rivian Loses $38,000 Per Vehicle Delivered In Q1. No Comment On Apple Partnership Rumors.

    Rivian stock angled higher Wednesday after Q1 earnings amid speculation Apple is exploring a partnership with the EV startup.

  • Court rules North Carolina Catholic school could fire gay teacher who announced his wedding online

    A Catholic school in North Carolina had the right to fire a gay teacher who announced his marriage on social media a decade ago, a federal appeals court ruled Wednesday, reversing a judge's earlier decision. A panel of the 4th U.S. Circuit Court of Appeals in Richmond, Virginia, reversed a 2021 ruling that Charlotte Catholic High School and the Roman Catholic Diocese of Charlotte had violated Lonnie Billard’s federal employment protections against sex discrimination under Title VII of the Civil Rights Act. The school said Billard wasn't invited back as a substitute teacher because of his “advocacy in favor of a position that is opposed to what the church teaches about marriage,” a court document said.

  • Coherent, Inc. (NASDAQ:COHR) Q3 2024 Earnings Call Transcript

    Coherent, Inc. (NASDAQ:COHR) Q3 2024 Earnings Call Transcript May 7, 2024 Coherent, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day and thank you for standing by. Welcome to the Coherent Corp Fiscal Year ’24 Third Quarter Earnings […]

  • Dutch Bros stock jumps on Q1 earnings, raises 2024 guidance

    Dutch Bros (BROS) shares are rallying Wednesday, as the coffee chain's first-quarter results beat on both the top and bottom lines. The company reported revenue of $275.10 million, surpassing estimates of $255.62 million. Adjusted earnings per share (EPS) came in at $0.09 per share against expectations of $0.02. Yahoo Finance's Brooke DiPalma breaks down the details of the report, analyzing Wall Street commentary comparing Dutch Bros' performance to that of cafe juggernaut Starbucks (SBUX). For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith

  • Elanco Makes A Bullish Move On Its First Quarter Beat; Are Pet Health Stocks Forging A Comeback?

    Elanco stock surged Wednesday after the pet drugmaker beat first quarter expectations and hiked its profit guidance for the year.

  • Addus HomeCare Corporation (NASDAQ:ADUS) Q1 2024 Earnings Call Transcript

    Addus HomeCare Corporation (NASDAQ:ADUS) Q1 2024 Earnings Call Transcript May 7, 2024 Addus HomeCare Corporation isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day, and welcome to the Addus HomeCare’s First Quarter 2024 Earnings Conference Call. All participants will […]

  • All of a sudden, Democrats are talking about Gaza and the Israel arms pause

    ‘Benjamin Netanyahu ignores the United States at his peril,’ Elizabeth Warren told The Independent

  • Arm's quarterly revenue forecast beats Street; annual rev guidance misses

    (Reuters) -Chip designer Arm Holdings gave a fiscal first-quarter revenue forecast on Wednesday that beat Wall Street's expectations, but its full-year forecast was below expectations. Shares of Arm fell about 4% in extended trading after the report. For the current fiscal first quarter, Arm forecast revenue in a range between $875 million and $925 million, with a midpoint of $900 million, compared with an average analyst estimate of $857.5 million, according to LSEG data.