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The Norges Bank also noted inflationary pressures were easing and previous hikes were slowing the economy. 7) EURO ZONE The ECB raised its key rate by 50 bps to 2.5% last week, its fifth successive hike and the highest level since November 2008. It said it intends to hike the rate by another 50 basis points in March to bring inflation down to its 2% medium-term target.

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