The GBP/NOK currency pair was stuck within a narrow daily range on Wednesday ahead of the outcome of the Bank of England’s and Norges Bank’s policy meetings.
The Bank of England is expected to keep its benchmark interest rate intact at 4% at its November 6th meeting.
In September, two BoE policy makers voted in favor of a 25 basis point rate cut, while seven voted for leaving rates on hold.
The central bank had cited progress in disinflation after past shocks, underpinned by restrictive policy.
Wage growth, while still elevated, has slowed and is expected to ease further.
BoE policy makers had also highlighted a gradual, data-driven approach with no pre-set trajectory for rate cuts.
Meanwhile, Norges Bank is expected to leave its key policy rate without change at 4% at its November 6th meeting.
In September, Norges Bank lowered its policy rate by 25 basis points to 4%, which marked the second rate cut in five years.
The central bank had said that the policy rate would likely be gradually reduced to 3% in upcoming years, while inflation is forecast to steady near 2% by 2028.
The GBP/NOK currency pair was last little changed on the day to trade at 13.3133.
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