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 […]

Interest rates steady, shares recover

The executive board of Norway’s central bank kept its key policy rate unchanged at 1.25 percent on Thursday. The Oslo Stock Exchange, meanwhile, seemed to be recovering from a sharp decline on Wednesday. “The upturn in the Norwegian economy is continuing broadly as expected in June,” the bank board stated, while “underlying inflation has been […]

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 […]

Summer holiday budgets trimmed

Norwegians aren’t spending quite as much on their summer holidays this year. A recent survey shows a 6 percent decline on average as compared to last year. The survey, conducted by research firm Respons Analyse for Sparebank1, shows that Norwegians on average planned to spend NOK 16,713 (nearly USD 2,000). That’s down from NOK 17,866 […]

Central bank raises interest rates

Interest rates rose another quarter-point on Thursday, after Norway’s central bank decided that it was time to gently step on the country’s economic brakes. Norges Bank‘s governor, Øystein Olsen, also warned that another interest rate hike looms later this year. “Our current assessment of the outlook and balance of risks suggests that the policy rate […]

SSB confirms lower economic prospects

International trade tension and higher interest rates are likely to put a damper on economic activity in Norway, according to state statistics bureau SSB (Statistics Norway). “We have clearly lowered our prognoser,” said SSB researcher Thomas von Brasch after presenting SSB’s latest economic analysis last week. It confirms the concerns of several other analysts and […]

Debt adds to the oil dependency threat

NEWS ANALYSIS: Norway’s dependency on its oil and gas industry isn’t the only thing threatening the economy. After a week of falling oil prices, state financial regulators are also sounding alarms over Norwegians’ record high household debt at a time when interest rates are due to rise. “The household debt burden, measured in terms of […]

Jensen defends her use of oil money

Finance Minister Siv Jensen has had to fend off lots of criticism since unveiling Norway’s revised state budget for this year. Her decision to dip NOK 7 billion deeper into the country’s huge Oil Fund fueled claims that interest rates are now more likely to rise for a third time later this year, but Jensen […]

Euronext relishes Oslo Børs takeover

The French boss of the pan-European stock exchange Euronext said he planned to celebrate the takeover of the Oslo Stock Exchange (Oslo Børs VPS) with beer and ice cream during Norway’s Constitution Day festivities on Friday. Euronext prevailed in its bid for the exchange after the finance ministry deemed both Euronext and Nasdaq of the […]

200-year-old ‘Børs’ basks amid bidding

The Oslo Stock Exchange (Oslo Børs) could mark its bicententennial on Monday by basking in both bright spring sunshine and enormous investor attention. At the ripe old age of 200, the exchange is still so active and attractive that international suitors are eagerly bidding to take it over. As newspaper Dagens Næringsliv (DN) reported before […]