Norwegian Krone At Near 10-month High Versus Euro After Norway Rate Decision

The Norwegian Krone drifted higher against the euro in early European deals on Thursday, as Norway’s central bank kept its key interest rate unchanged as widely expected and hinted no change in the policy rates in months ahead.

The Executive Board of Norges Bank decided on Thursday to keep the benchmark rate at 0.50 percent. The bank last reduced the rate by 25 basis points in March.

“Our current assessment of the outlook suggests that the key policy rate will most likely remain at today’s level in the period ahead,” Governor ?ystein Olsen said.

The Norwegian Krone climbed to 9.1210 against euro, its strongest since November 30, 2015. At Wednesday’s close, the pair was worth 9.2363. The Norwegian Krone may locate resistance around the 9.00 zone.