(Bloomberg) -- Norway's krone traded near its lowest
in a week on speculation a slowing of inflation will reduce the
chances of the central bank quickening the pace of interest-rate
increases.
The central bank last month said its benchmark rate would
rise to 5.75 percent by mid-2008 to pre-empt inflation in the
economy, which pushed the krone 1.6 percent higher, its best
monthly performance since November 2006. The krone yesterday slid
by the most since March, after the statistics agency of Norway
said inflation unexpectedly slowed to 1.3 percent in June.
Read more at Bloomberg Currencies News
in a week on speculation a slowing of inflation will reduce the
chances of the central bank quickening the pace of interest-rate
increases.
The central bank last month said its benchmark rate would
rise to 5.75 percent by mid-2008 to pre-empt inflation in the
economy, which pushed the krone 1.6 percent higher, its best
monthly performance since November 2006. The krone yesterday slid
by the most since March, after the statistics agency of Norway
said inflation unexpectedly slowed to 1.3 percent in June.
Read more at Bloomberg Currencies News
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