Norway’s central bank kept borrowing costs unchanged and signaled no intention to cut them before next year as it contends with the inflation risks posed by a weak krone.

Norway's central bank will keep its key policy interest rate unchanged this week at a 16-year high of 4.50%, all 27 economists in a Reuters poll said, as investors look for signs of when Norges Bank may eventually begin to cut borrowing costs.

Policymakers in the U.K., eurozone and Canada have already cut rates. But India, South Korea and others were, essentially, waiting for the Fed.

The UAE Central Bank cut its benchmark interest rate on Wednesday, joining the US Federal Reserve in cutting the policy rate for the first time in four years. After hitting the pause on increasing interest rates since July last year,