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Deutsche Bank analysts point out that the Norwegian Krone appreciated by +0.87% versus the euro yesterday as the central bank raised interest rates by 25bps to 1%.

Key Quotes

“While the rate hike was expected, the interest rate forecast for 2019 was faster than the Norges Bank had indicated in December. Governor Olsen said that he saw a greater than 50% probability that there would be a rate hike in June.”