Back
20 Sep 2013
Flash: EUR/NOK expected at 7.80 in 3 months – UBS
FXstreet.com (Córdoba) - The UBS analyst team commented on the Norges Bank revision of its first rate hike forecast and its effect on the EUR/NOK.
Key Quotes
“The Norges Bank has brought forward its first rate hike forecast to summer 2014 from late 2014. Main drivers for this revision are recently higher inflation and a weaker NOK”.
“The news led to some swings in EURNOK, but failed to move it away from its current level below 7.90”.
“Going forward, the Norges Bank will likely avoid any larger appreciation or depreciation of the NOK in order to avoid a further weakening of the economy or a further rise in inflation”.
“We expect EURNOK at 7.80 in 3 months”.
Key Quotes
“The Norges Bank has brought forward its first rate hike forecast to summer 2014 from late 2014. Main drivers for this revision are recently higher inflation and a weaker NOK”.
“The news led to some swings in EURNOK, but failed to move it away from its current level below 7.90”.
“Going forward, the Norges Bank will likely avoid any larger appreciation or depreciation of the NOK in order to avoid a further weakening of the economy or a further rise in inflation”.
“We expect EURNOK at 7.80 in 3 months”.