Norwegian Krone Off 6-day Low Versus Euro After Norway Rate Decision
November 04 2015 - 11:48PM
RTTF2
The Norwegian Krone trimmed its early losses against the euro in
European deals on Thursday, after Norway's central bank retained
its key interest rates at a record low, as expected by
economists.
The Executive Board of Norges Bank kept its policy rate at 0.75
percent. The bank reduced its rate by a quarter point each in June
and September.
"An overall assessment of new information implies that the key
policy rate be kept unchanged at this meeting," Governor Oystein
Olsen, said.
The Norwegian Krone reversed from an early 6-day low of 9.4164
against the euro, rising to 9.3069. The Krone may locate resistance
around the 9.2 level. The pair finished Wednesday's trading at
9.3792.
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