No increase in the key interest rate

The executive board of Norway’s central bank (Norges Bank) has acted in line with economists’ recommendations this time, announcing Thursday that there would be no increase in its policy rate. It remains unchanged at 1.5 percent. Norwegian economists making up an interest rate panel for the country’s major business newspaper, Dagens Næringsliv (DN), were surprised […]

Interest rate hike aimed at stability

The executive board of Norway’s central bank defied many local economists and other central bankers around the world on Thursday by going ahead with its plan to boost interest rates. The board wants to maintain economic and financial stability amidst “solid” economic growth, while also trying to rein in debt and housing prices. The modest […]

Central bank buys even weaker kroner

A decision by Norway’s central bank to buy more of the country’s own currency has raised some eyebrows. An analyst at Norway’s biggest bank thinks it looks like Norges Bank is trying to prop up the sagging krone. By midday Monday, it cost NOK 9.12 to buy one US dollar. That was up from already […]

Weak ‘krone’ may get even weaker

After more than a week of trading at around NOK 9 to the US dollar, Norway’s biggest bank is predicting that the country’s currency may lose even more value. DNB Markets thinks it will cost NOK 10.20 to buy a euro around Christmastime. The investment banking arm of Oslo-based DNB wrote in its latest economic […]

Krone weakens on Trump’s trade war

The value of Norway’s currency, the krone, fell again during the night to its weakest level against the US dollar in more than three years. The still-stong Norwegian economy doesn’t help when markets react negatively to US President Donald Trump’s trade war with China. It didn’t take long for stock markets and oil prices to […]

‘Krone’ weakens on a lower oil price

It cost more than NOK 8.60 to buy one US dollar on Tuesday, after the Norwegian currency weakened once again. Low oil prices are to blame, along with international unrest in general. “I’m not surprised the krone is where it’s at, in light of the oil price and risk aversion in the market,” Nils Kristian […]

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 […]

Italian unrest hits Norway’s ‘krone’

Oil prices have been rising and Norway’s economy is surging ahead, but that hasn’t made the Norwegian krone stronger, as might be expected. It weakened considerably against the US dollar on Tuesday, with analysts blaming political unrest in Italy that’s hit the euro, and even a weaker krone in neighbouring Sweden. It cost more than […]

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 […]