March 2, 2018 / 10:42 AM / 3 months ago

Norway cuts inflation target to 2 percent, triggering crown rally

OSLO, March 2 (Reuters) - The Norwegian government lowered the central bank’s inflation target to 2 percent from the current 2.5 percent, it said on Friday, adding that this would align Norwegian policy with that of other similar countries.

The crown currency rallied against the euro following the decision, which was announced by the Norwegian finance ministry.

“In Norges Bank’s assessment, the new regulation will not result in significant changes in the conduct of monetary policy,” central bank Governor Oeystein Olsen said in a separate statement. (Reporting by Terje Solsvik and Camilla Knudsen, editing by Gwladys Fouche)

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