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Norway Krone Stronger After Central Bank’s Policy Meeting

September 19, 2013 at 13:32 by Vladimir Vyun

A fan of 50-krone notesThe Norway krone advanced today after the nation’s central bank left its key policy rate unchanged and signaled that it plans interest rate hikes, not cuts.

The Norges Bank kept the main interest rate at 1.5 percent today. The bank said in the statement:

The analyses imply a key policy rate at today’s level in the period to summer 2014, followed by a gradual increase to a more normal level.

The signs that the central bank considers tightening of monetary policy, not easing, were definitely positive for the currency.

USD/NOK went down from 5.8189 to 5.7959 as of 13:32 GMT today.

If you have any questions, comments, or opinions regarding the Norwegian Krone, feel free to post them using the commentary form below.

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