Norges Bank announces its rate decision today. Economists at ING analyze EUR/NOK ahead of the policy meeting.
It seems far too soon for Norges Bank to embrace any idea of easing
The policy rate was hiked to 4.50% in December – so it would seem far too soon for Norges Bank to embrace any idea of easing. However, the Norwegian Krone has been suffering a little this year as the backup in market interest rates has hit the risk environment.
In all, we suspect EUR/NOK needs to trade a little longer in this 11.35-11.45 range.
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