According to Jin10, the Norwegian krone rose to a one-week high against the euro after Norges Bank raised interest rates by 25 basis points to 4.50%. The central bank governor said the hike should help address inflation that has remained above target for several years and added that it may be necessary to keep the policy rate high for some time, with the committee prepared to raise rates further if needed to bring inflation back to its 2% target within a reasonable time frame.