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reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/cb-polls?RIC=NOINTR%3DECI poll data

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Rate announcement due on Dec. 15

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Analysts expect 25 bps hike

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Economy slowing faster than expected, inflation still high

OSLO, Dec 12 (Reuters) - Norway's central bank is widely expected to raise its benchmark interest rate by 0.25 percentage points to 2.75% this week and to signal that a further hike is due in the coming months, a Reuters poll showed on Monday.

Norges Bank's monetary policy committee on Nov. 3 raised its sight deposit rate by 25 basis points (bps) to 2.50%, following a series of hikes starting in September last year from a record-low zero.

"The policy rate will most likely be raised further in December," the central bank said at the time without detailing by how much, citing unusually high uncertainty.

In total, 23 of the 24 analysts polled by Reuters said they believed Norges Bank would hike the rate by 25 bps to 2.75% on Dec. 15, while one predicted an unchanged policy rate.

Norges Bank is expected to increase the policy rate a further 25 bps to 3% in the first quarter of 2023, according to the poll.

Core inflation has outpaced the central bank's forecasts made in September, hitting 5.9% in October year-on-year and slowing somewhat to 5.7% in November while the bank had projected 5% in both months.

The central bank targets core inflation of 2.0% over time.

Housing prices have taken a hit in recent months, dropping faster than Norges Bank expected, although the average home still cost 1.1% more in November compared to a year earlier.

A key business leader survey last week showed slowing activity in the Norwegian economy and indicated rising costs and interest rates, together with lower public sector demand, would dampen activity through winter.

As a result, the economy now looks set to slow more quickly than previously believed, casting some doubt on whether the central bank will raise rates beyond 2.75%, brokerage Nordea said. (Editing by Terje Solsvik and Alison Williams)