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Norway’s Interest Rates Remain Stable, Krone Gains

March 27, 2014 at 15:31 by Vladimir Vyun

Focus on 100-krone noteThe Norway krone climbed today after the nation’s central bank kept interest rates unchanged and signaled that borrowing costs may start rising next year.

The Norges Bank kept its key interest rate at 1.5 percent. The bank said in the accompanying statement:

The projections for the Norwegian economy show that growth will pick up somewhat further ahead.

As of the future monetary policy, Governor Oeystein Olsen explained:

The analyses imply an unchanged key policy rate in the period to summer 2015, followed by a gradual increase.

USD/NOK went down from 6.0529 to 5.9904 as of 15:31 GMT today after reaching the daily high of 6.0734.

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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