Rates kept stable as growth slows

Norway’s central bank (Norges Bank) opted against raising interest rates on Thursday, while economists warned of weaker economic growth and “deep concern” about US President Donald Trump’s trade wars. A rise in interest rates still looms in September. The central bank’s executive board stated that the current “upturn” in the Norwegian economy that began when […]

Weaker ‘krone’ due to strengthen

Norway’s krone has been losing value against the US dollar during the past week, at odds with predictions earlier this summer. Analysts now blame uncertainty generated by US President Donald Trump’s trade wars, a stronger dollar and the summer holidays. One US dollar cost NOK 8.23 on Wednesday afternoon, compared to just NOK 6 and […]

Krone expected to rise against dollar

Norway’s central bank refrained once again from raising interest rates on Thursday but now states that it’s “likely” to do so in September. That in turn can boost the value of the country’s currency, the krone, which already is expected to strengthen significantly against the US dollar next year. Newspaper Dagens Næringsliv (DN) was even […]

No rise in interest rates, for now

Norwegians with big mortgages could breathe another sigh of relief on Thursday, after the country‘s central bank board refrained once again from raising interest rates. Rates are still expected to rise later this year, but Norges Bank’s Executive Board decided to keep its key policy rate at 0.50 percent unchanged for now. “The outlook and […]

Interest rates set to rise ‘cautiously’

Norway’s central bank announced Thursday morning that its executive board is poised to raise interest rates at the end of this summer. The bank’s key policy rate will remain at its current record-low level of 0.5 percent until then. The board of Norges Bank seemed to downplay the effects of a new government regulation on […]

Rate firm as krone, housing perk up

Norway’s central bank kept its key lending rate unchanged as expected, at its record low level, amidst news that Norway’s housing market is stronger than previously thought. Interest rates aren’t expected to rise until later this year, but the country’s currency is already strengthening. There was a rush of economic news even before the executive […]

Hint of higher rates boosts the ‘krone’

UPDATED: Norway’s krone has been through another period of extreme weakness during the past week, but it gained strength on Thursday. The boost came after the country’s central bank hinted that it may raise interest rates sooner than expected, and then that rates may rise faster. Norges Bank’s Executive Board decided to once again keep […]

Krone’s latest dive ‘unique, strange’

Norway’s currency, the krone, has been caught in another puzzling downward spiral this week that’s left analysts groping for explanations. Despite more positive economic indicators, the Norwegian krone fell to one of the lowest levels ever against the euro on Wednesday and remained weak on Thursday. After trading at an already relatively weak level of […]

Analysts puzzled over krone’s dive

The value of Norway’s currency, the krone, has taken a dive just during the past 24 hours. The US dollar in particular has become much more expensive, in relative terms, and both economists and analysts are having trouble explaining why. “What’s happening?” asked the chief economist at Nordea Markets, Kjetil Olsen, in his report on […]

Central bank keeps interest rates low

The boss of Norway’s central bank (Norges Bank) seemed to agree on Thursday with the vast majority of Norwegian economists and analysts that it’s best to keep the country’s interest rates low and stable. The bank’s executive board announced after its lastest meeting that its “key policy rate” will remain unchanged at 0.5 percent. “The […]