Norway keeps interest rate on hold, eyes autumn cut

Norway's central bank kept its benchmark interest rate unchanged at 4.50% on Thursday, as unanimously expected by analysts, and reiterated that the cost of borrowing could start to fall in the autumn.

"The current forecast indicates that the policy rate will continue to lie at 4.5% in the period to autumn before gradually moving down," the central bank said in a statement. The Norwegian crown strengthened to 11.49 against the euro at 0905 GMT, from 11.53 just before the announcement.