Norway Is Ready for Higher Rates, Central Bank Governor Says

The transcript discusses Norway's economic recovery and the first interest rate hike in seven years. Governor Øystein Olsen explains the country's readiness for this change, citing solid economic growth, low unemployment, and rising wages. The discussion highlights a cautious approach to future rate increases, considering international economic conditions and potential currency appreciation. The conversation also touches on the differences between Norway's and the European Union's economic situations, emphasizing Norway's unique position due to its oil dependency and smaller economy.

What significant economic event occurred in Norway for the first time in seven years?

• A decrease in oil prices

• An increase in unemployment

• A drop in GDP

• An interest rate hike

Why is the Norwegian central bank taking a cautious approach to future rate hikes?

• To align with EU policies

• To avoid rapid currency appreciation

• Because of unexpected economic growth

• Due to high inflation

When is the next interest rate increase most likely to occur according to the Norwegian central bank?

• Third quarter of 2019

• Fourth quarter of 2018

• Second quarter of 2019

• First quarter of 2019

What is one reason for Norway's ability to increase interest rates ahead of the European Union?

• Stronger trade relations

• Higher inflation

• Lower GDP growth

• Higher oil prices