Norway’s central bank raises key policy interest rate

COPENHAGEN, Denmark (AP) — Norway’s central bank has raised its key policy interest rate from 0.25% to 0.5%, citing the upswing in the economy that it said likely will continue. If the growth continues, the bank’s leader said Thursday that while there’s uncertainty about the coronavirus pandemic, if growth continues, the bank is expected to make more rate increases next year. The change takes effect Friday. It comes as other central banks, including the European Central Bank and Bank of England, issue decisions amid high inflation and worries about the new omicron variant of the virus.