Norges Bank maintains its Key Policy Rate at 4.50% as expected; the data so far could suggest that a tight monetary policy stance may be needed for somewhat longer than previously envisaged.

Data:

"Since the March Report, inflation has been slightly lower than projected. On the other hand, economic activity is slightly higher than expected, and wage growth may turn out to be slightly higher than projected."
"The policy rate will likely be at this level for some time ahead"
"The data so far could suggest that a tight monetary policy stance may be needed for somewhat longer than previously envisaged."

FX:

At the same time, interest rate expectations abroad have risen, and the krone is somewhat weaker than assumed.