10:02 AM · 19 January 2023

BREAKING: Norges Bank leaves rates unchanged

Norges Bank announced its latest monetary policy decision today at 9:00 am GMT. Central bank left rates unchanged at 2.75%, in-line with market expectations. EURNOK jumped in a knee-jerk move and is now testing resistance zone ranging around 10.75 mark. Weakening of Norwegian krone can be reasoned with the fact that almost half of economists surveyed by Bloomberg or Reuters expected a 25 bp rate hike.

EURNOK at D1 interval. Source: xStation5

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