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Norges Bank FX Purchases to Slow to NOK 1bln Daily in July

NORWAY
  • Norges Bank FX purchases to slow to NOK 1bln from NOK 1.3bln in June.
  • That's the slowest pace for FX purchases in Norway since March 2022 after reaching levels of NOK 4.3bln late last year and becoming a key factor for NOK weakness across Q1 this year. Had been expected to slow - and theoretically could reverse to FX sales (not purchases) later this year.

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