Today in Norway: A roundup of the latest news on Tuesday
Interest rates expected to peak soon, local authorities opposed to wind farms and Norwegians unlikely to feel an impact of increased military preparedness are among the headlines from Norway on Tuesday.
Interest rates could peak soon
Norway's central bank, Norges Bank, could wind down its policy of sharply increasing interest rates to try and curb inflation very soon, Frank Jullum, chief economist at Danske Bank, has told the newspaper DN.
He told the newspaper that a rate hike on Thursday, which industry experts believe to be of 0.25 percentage points, will be the last for a while.
The raise would take the key policy rate in Norway to 2.50 percent.
"Now they have raised the policy rate a lot in a short time, and then it makes sense to stop for a while to see how this works. Because it takes time before increased interest rates translate into demand," Jullum said.
He also added that many economists expect the economy to slow down rapidly in the coming months.
Norwegians unlikely to see a change in day-to-day lives as country ups military preparedness
Norway will raise its military readiness, its prime minister said on Monday, stressing, however, that no direct threat had been detected.
Norway's Prime Minister Jonas Gahr Støre said that the background for the security tightening was Russia's aggression in Ukraine and the security policy situation the war has led to in Europe.
Støre added that the general public was unlikely to experience significant changes in their lives as a result of the increased preparedness.
"I don't think people in their normal lives will see big changes due to this. It is about our military apparatus, personnel and how they set up their operations," Støre told Norwegian broadcaster TV2.
Local authorities shun wind farms
Norway's government ended an onshore wind farm construction hiatus earlier this year. However, despite the government giving local authorities the green light to press on with wind farm projects, local authorities have shied away from the energy source, Euro power reports.
So far, only the local authorities in Gamvik and Lebesby have shown an interest in onshore wind farm projects.
Hundreds of schools with ventilation issues
More than 800 school buildings in Norway may suffer serious issues with ventilation systems that may negatively affect the indoor climate in these buildings.
This amounts to around 14 percent of all school buildings in Norway. Defects include lacking a complete ventilation system or having one with a high probability of malfunctioning and requiring replacement within five years.
The figures, reported by Utdanningsnytt, mean that around 110,000 pupils spend hours in a classroom with poor ventilation and bad air.
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Interest rates could peak soon
Norway's central bank, Norges Bank, could wind down its policy of sharply increasing interest rates to try and curb inflation very soon, Frank Jullum, chief economist at Danske Bank, has told the newspaper DN.
He told the newspaper that a rate hike on Thursday, which industry experts believe to be of 0.25 percentage points, will be the last for a while.
The raise would take the key policy rate in Norway to 2.50 percent.
"Now they have raised the policy rate a lot in a short time, and then it makes sense to stop for a while to see how this works. Because it takes time before increased interest rates translate into demand," Jullum said.
He also added that many economists expect the economy to slow down rapidly in the coming months.
Norwegians unlikely to see a change in day-to-day lives as country ups military preparedness
Norway will raise its military readiness, its prime minister said on Monday, stressing, however, that no direct threat had been detected.
Norway's Prime Minister Jonas Gahr Støre said that the background for the security tightening was Russia's aggression in Ukraine and the security policy situation the war has led to in Europe.
Støre added that the general public was unlikely to experience significant changes in their lives as a result of the increased preparedness.
"I don't think people in their normal lives will see big changes due to this. It is about our military apparatus, personnel and how they set up their operations," Støre told Norwegian broadcaster TV2.
Local authorities shun wind farms
Norway's government ended an onshore wind farm construction hiatus earlier this year. However, despite the government giving local authorities the green light to press on with wind farm projects, local authorities have shied away from the energy source, Euro power reports.
So far, only the local authorities in Gamvik and Lebesby have shown an interest in onshore wind farm projects.
Hundreds of schools with ventilation issues
More than 800 school buildings in Norway may suffer serious issues with ventilation systems that may negatively affect the indoor climate in these buildings.
This amounts to around 14 percent of all school buildings in Norway. Defects include lacking a complete ventilation system or having one with a high probability of malfunctioning and requiring replacement within five years.
The figures, reported by Utdanningsnytt, mean that around 110,000 pupils spend hours in a classroom with poor ventilation and bad air.
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