October 9, 2018 / 5:18 AM / a month ago

Norway c.bank chief urges cautious approach to rate hikes

OSLO, Oct 9 (Reuters) - The Norwegian central bank will continue to hike rates in the coming years, while taking a cautious approach, Governor Oeystein Olsen said in a speech due to be delivered in Bangkok on Tuesday.

The bank last month raised rates for the first time in seven years.

“If the economy evolves as we now expect, this is the beginning of a gradual normalisation of the interest rate level,” Olsen said.

“A long period of low interest rates and mounting household debt burdens has led to greater uncertainty surrounding the effects of higher interest rates. This suggests a cautious approach to interest rate setting,” he added. (Reporting by Terje Solsvik, editing by Ole Petter Skonnord)

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