March 22, 2017 / 11:48 AM / 8 months ago

Norway central bank's rate most likely on hold -deputy governor

OSLO, March 22 (Reuters) - Norway’s economic growth is picking up after hitting a seven-year low in 2016, while interest rates are expected to be on hold for the time to come, deputy central bank chief Jon Nicolaisen said in a speech on Wednesday.

“The economy has turned the corner,” Nicolaisen said in prepared remarks.

The central bank on March 16 kept its key policy interest rate on hold and said it was likely to stay close to 0.5 percent in the coming years, while adding a rate cut was still seen as more likely than an increase. (Reporting by Terje Solsvik, editing by Ole Petter Skonnord)

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