Norwegian Key Policy Rate 1.75% vs. Exp. 1.75% (Prev. 1.25%) via a unanimous decision; policy rate will most likely be raised further in September.

Inflation has been considerably higher than projected and markedly above the 2 percent target.
The rise in prices has been broad-based in recent months and may entail that inflation will remain high for longer than expected earlier.
This suggests a faster rise in the policy rate than forecast in June.
Unemployment has fallen a little more than expected and is at a very low level.
There is a risk that little spare capacity in the Norwegian economy.
The rise in interest rates and high inflation may cool down the housing market and curb household consumption faster than currently envisaged.