Norway currency strength no surprise as central bank lifts path

OSLO: Norway's central bank had anticipated that the crown currency would strengthen on Thursday when the bank said a rate hike would likely come earlier than previously planned, Governor Oeystein Olsen told Reuters.

The crown currency rose by about one percent against the euro after the central bank said rates could rise in August or September, rather than its previous expectation for a December hike.

Norges Bank does not anticipate making more than one hike this year, Olsen added.