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Interest rates stable

In light of a slowing Norwegian economy, the Central Bank of Norway has decided to let its prime lending rate stand pat at 7 percent and to adopt a neutral stance in relation to future interest rate policy. Central Bank governor Svein Gjedrem said that while the labour market remained tight, there were clear signs of reduced consumption and a cooling property market, which suggest that inflation pressure is diminishing. Earlier this year the Central Bank raised interest rates four times.