The weak Regional Network Survey triggered a sell-off in the Norwegian krone on Tuesday, but it has since made up all the ground that it lost, and more. We are comfortable with our forecast for it to rise to NOK 9.8 per euro by end-2020, particularly given the encouraging noises on the global trade front. Next week, the Riksbank is all but certain to raise its repo rate back to zero, while the Norges Bank is set to keep its key policy rate on hold at 1.50%.
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