September 21, 2017 / 10:01 AM / a year ago

Norway crown's boost from higher rate path was expected -governor

OSLO, Sept 21 (Reuters) - The Norwegian currency’s reaction to the central bank’s increased rate path was largely as anticipated, Governor Oeystein Olsen told Reuters on Thursday.

The crown strengthened by about 0.75 percent against the euro when the central bank said rates were likely to rise in the first half of 2019, rather towards the end of that year.

“The direction of the (crown’s) move was not so unexpected, although it’s always hard to quantify ... this move was no stronger than one could expect,” Olsen told Reuters. (Reporting by Joachim Dagenborg, writing by Terje Solsvik, editing by Ole Petter Skonnord)

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