Norway is seeing signs of lower inflation and that interest rates may have reached a peak, Prime Minister Jonas Gahr Stoere told parliament on Wednesday.
"We see signs for a third consecutive month that inflation is easing and that interest rates may have peaked. There's a debate on whether there will be another rate hike. Maybe there won't be, this is up to the central bank," Stoere said.
Norges Bank last month raised its benchmark interest rate to 4.25% and said it may hike again in December, depending on how the economy develops.
Norway's September inflation was lower than expected, Statistics Norway data published on Oct. 10 showed, easing the upwards pressure on interest rates. (Reporting by Terje Solsvik, editing by Anna Ringstrom)