A decline in Norway’s adjusted unemployment rate that suprised analysts is likely to reduce the already low chance of a reduction in borrowing costs before next year.
A decline in Norway’s adjusted unemployment rate that suprised analysts is likely to reduce the already low chance of a reduction in borrowing costs before next year.The seasonally adjusted registered jobless rate for August fell to 2% from the previous month’s 2.1% that was the highest level in more than two years, data from the Norwegian Labor and Welfare Administration showed on Friday. While the figure was in line with Norges Bank’s projection from June, it defied the forecasts by all analysts surveyed by Bloomberg who had expected the rate to remain at 2.1%.
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