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Norwegian Krone Climbs Despite Inflation Miss

July 10, 2019 at 20:04 by Vladimir Vyun

A mix of Norwegian krone billsThe Norwegian krone climbed today even after nation’s consumer inflation missed expectations.

Statistics Norway reported that the Consumer Price Index rose 1.9% in June from a year ago versus the consensus forecast of a 2.1% increase. The core CPI rose 2.3%, the same as in the previous month, whereas the Norwegian central bank had predicted a slightly bigger increase of 2.4%. Some analysts argued, though, that the small miss should not deter the Norges Bank from hiking interest rates in September.

USD/NOK slumped from 8.6520 to 8.5771 as of 20:03 GMT today. EUR/NOK declined from 9.6857 to 9.6527, retreating from the daily high of 9.7134.

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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