The Norges Bank (Norway’s central bank) was one of the central banks that were conducting policy meetings today and decided to keep their monetary policies unchanged. The Norwegian krone (as well as most other currencies) traded below the opening level against the US dollar after the meeting.
Norwegian Krone NOK
The Norwegian krone is the currency officially used in Norway, while it also used in neighboring countries near the border with Norway. The currency was introduced in 1875 and allowed to float freely in 1992. The exchange rate of the currency depends on prices for crude oil and interest rates. Norway is exporting oil and performance of the krone depends on this commodity.
Norwegian Krone News Archive
The Norwegian krone joined the rally against the US dollar together with other currencies of oil-producing countries after the meeting between OPEC and non-OPEC producers on the weekend.
The Norwegian krone climbed versus the US dollar after Norway’s central bank refrained from cutting interest rates during today’s policy meeting.
The Norwegian krone rose today after the Norges Bank kept monetary policy unchanged and the decent growth of Norway’s economy reduced the risk of interest rate cuts.
The Norges Bank was yet another central bank to hold policy meeting today. The bank made a decision to cut its key interest rate. Surprisingly enough, the Norwegian krone gained against its major peers despite the news.
The Norwegian krone slumped today after the nation’s central bank unexpectedly cut the key policy rate and signaled that another rate decrease is probable.
The Norwegian krone remained weak today after Friday’s decision of Norway’s central bank to reduce its key policy rate. The bank predicted that borrowing costs will remain unchanged for the next two years.
The Norwegian krone dropped today ahead of this week’s meeting of oil-producing countries. Oil exporters will gather to discuss steps for supporting prices for crude that have been in decline since June.
The Norwegian krone gained today following yesterday’s decision of Norway’s central bank to keep its benchmark interest rate unchanged. Such decision was widely expected by market analysts.
The Norwegian krone jumped after Norway’s central bank refrained from an interest rate cut at today’s policy meeting. What is more, bank’s chief Oeystein Olsen hinted at a possibility of an interest rate hike after 2015.