Forex - EUR/NOK Flows: Jumps higher as Norges Bank seen as less firm on a hike


 08:08 (GMT) 15 Aug

  [Forex Flows]   [Central Banks]

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Norges Bank left rate unchanged at 1.25%, surprising none. The key message in the statement was tweaked to "rate outlook little changed since June report" from June's "the policy rate will most likely be increased further in the course of 2019".
EUR/NOK jumps higher to 10.45 from 9.8 before retracing partially as market thinks that the NB might be wavering a little on their tightening bias, as the Bank fails to be more specific on the date of the rate hike projected in June. Whereas back in May, the NB explicitly mentioned a rate hike will come in June. Broadly, the message is vague and should offer no clear direction for the NOK. Risk sentiment might take over the driving seat when the dust surrounding this announcement settles down.


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