Gelonghui May 3| Norway's central bank signaled it may delay plans to start cutting interest rates in the autumn after the Norway krona depreciated more thanjili777comexpectations of officials. Norway's central bank keeps key deposit rate at 4jili777com.5%, the highest level since December 2008, and said austerity may take "longer than previously thought" to maintain. The Norway krona is among the worst-performing currencies among the world's most traded currencies this year. Despite slowing inflation, the weakening of the krona poses a major challenge for Norway policymakers. Since the Federal Reserve did not give a timetable for interest rate cuts this week, Norway's central bank has less room for maneuver. If Norway takes early action, its currency could depreciate further, pushing up import prices. On a trade-weighted basis, the Norway krona is currently trading at about 3% lower than official estimates in March. The central bank acknowledged the results in a statement on Friday. "Interest rate expectations abroad have risen and the krona is weaker than expected," policymakers said.
