Thursday, the Statistics Norway said the M2 money supply rose 2.7% annually in March compared to a 2.6% increase in February. The money supply amounted to NOK 1,491 billion at end-March, smaller than the NOK 1,500 billion at end-February.

Separately, the statistical office said the annual growth in the credit indicator C2 was 8.8% to end-March, down from 9.4% to end-February. Non-financial enterprises in particular contributed to the decrease in the C2 growth.

C2 is an approximate measure of the size of the gross domestic debt of the general public in Norwegian krone and foreign currency.

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