Norway’s central bank left its key policy rate unchanged this morning, leaving the sight deposit rate at a record low of +0.5%. However, policy makers stated that, “the key policy rate would most likely be raised after summer 2018,” and this despite surprisingly muted inflation.


The upturn in the Norwegian economy appears to be “continuing broadly in line with” the picture presented at the policy meeting in March, the Norges Bank said.


EUR/NOK has fallen to €9.6492 after Norges Bank decision this morning vs. €9.7140 beforehand (see above).

Down-under, Aussie equities were noted outperformers as rising commodities prices helped the index get close to its best level of the year. Australia’s S&P/ASX added +0.8%.


In Hong Kong, the Hang Seng Index fell -1.3%, led lower by tech and real estate companies. Concerns about fresh US sanctions against Chinese telecom-equipment makers as well as renewed weakness in the hong kong dollars to us has sparked concerns about fund outflows.


In China, stocks rallied Thursday, aided by an afternoon rally in tech shares as a US trade delegation arrived in Beijing for key talks over tariffs and other issues. The blue-chip CSI 300 index rose +0.8%, while the Shanghai Composite Index gained +0.7%.