Reuters scores exclusive interview with Norway’s trade and industry minister

Norwegian bond yields fell and the crown weakened against the euro on May 6 after the Norwegian trade and industry minister told Reuters in an exclusive interview that an upcoming revision of the 2011 budget would tighten spending to prevent the crown from strengthening excessively. “We will have a revised budget that will have a tightening effect” on demand, Trond Giske told Reuters correspondents. Giske’s comments added to pressure for the central bank to refrain from an interest rate hike at this week’s policy meeting; before the interview, a small majority of analysts predicted it would hike.