EUR/NOK needs to trade a little longer in this 11.35-11.45 range – ING

FXStreet Insights Team FXStreet

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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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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