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

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.