Norway raises key rate for first time in 7 years

OSLO, Sept. 20 (Xinhua) -- Norway's central bank on Thursday decided to raise the key policy rate for the first time in seven years as the upturn in the Norwegian economy continues.

Norges Bank's Executive Board has decided to raise the key policy rate by 0.25 percentage point to 0.75 percent, the bank said in a statement.

Overall, the outlook and the balance of risks imply a gradual interest rate increase in the years ahead, the Norwegian central bank said.