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Analyst Peddler of the Dutch International Group stated in a report that the Norwegian central bank may hint at starting interest rate cuts soon at Thursday's meeting, but any negative impact on the Norwegian Krone should only be temporary. He suggested that the increasing risks to economic growth mean that the Norwegian central bank may pave the way for a rate cut in June. This could hinder the recovery of the Krone and keep the Euro against the Krone in the 11.70-11.80 range for a period of time. However, he noted that given the Krone's significant exchange rate advantage and the Euro's apparent overbought state, the Euro against the Krone is likely to continue to decline. The Dutch International Group's target is for the Euro against the Norwegian Krone to fall to 11.50 by the end of the year.