Commerzbank's report by Antje Praefcke indicates that the Norwegian Krone (NOK) is expected to remain stable with a slight upward trend. Norges Bank is signaling only one interest rate cut per year as inflation remains high, while the economic outlook for Norway is positive.
Norway’s central bank is expected to keep policy guidance broadly unchanged, with core inflation still above 3% limiting the scope for a dovish shift, ING's FX analyst Francesco Pesole notes.

출처 Fxstreet2025 년 11 월 11 일
The Swedish Krona (SEK) has significantly outperformed all other G10 currencies this year, including the Norwegian krone. There are good reasons for the SEK's outperformance; one of the most important is the presence of major defense companies.