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Norwegian Krone Flat Following Interest Rate Hike

September 21, 2018 at 11:07 by Vladimir Vyun

A fan of 50-krone notesThe Norwegian krone was little changed today after the nation’s central bank raised its key policy rate yesterday.

The Norges Bank announced yesterday an increase of its main interest rate to 0.75% from the record low 0.5%. The central bank predicted additional rate hikes in the future:

 

Overall, the outlook and the balance of risks imply a gradual interest rate increase in the years ahead.

Governor Øystein Olsen provided a more specific forecast:

The Executive Board’s current assessment of the outlook and balance of risks suggests that the key policy rate will most likely be increased further in 2019 Q1.

USD/NOK traded at 8.1469 as of 10:58 GMT today after opening at 8.1394 and touching the daily low of 8.1190.

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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