It seems that Norway's central bank is ready to lift its interest rates, Bloomberg informs.

As Norway moves from recovery stage to expansion, central bank leaders in Oslo are less and less focused on krone and planning to tighten monetary policy ahead of their colleagues in Frankfurt and Stockholm.

This step is supported by declining unemployment, higher oil prices and increasing optimism in business environment.

Bank will announce its decision on Thursday, and it is expected that interest rates hike will be planned for September. Today rate is a at record low level of 0,5%.

Slow inflation pace is the only factor that restricts central bank. Last month it was 1,2%, which is lower than bank’s estimate of 1,6% and target level of 2%.