This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-37056915

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
Norway's banks fight move to release data at 7am Norway's banks fight move to release data at 7am
(about 1 hour later)
Norway's currency dealers are unhappy about a plan by the country's statistics office to start releasing data at 7am, from the current time of 10am. Norway's currency and bond dealers are unhappy about a plan by the country's statistics office to start releasing data at 7am, instead of the current time of 10am.
Statistics Norway plans to change the time in September.Statistics Norway plans to change the time in September.
Traders say that releasing growth and unemployment numbers could lead to sharp swings in the Norwegian crown as there will be few around to trade it.Traders say that releasing growth and unemployment numbers could lead to sharp swings in the Norwegian crown as there will be few around to trade it.
This is because it is very thinly traded outside the country.This is because it is very thinly traded outside the country.
"In different countries data is released when markets are open and there is strong liquidity," said Sindre Stoeer, chief executive officer of the Norwegian Securities Dealers Association."In different countries data is released when markets are open and there is strong liquidity," said Sindre Stoeer, chief executive officer of the Norwegian Securities Dealers Association.
He added that the move could ultimately lead to uncertainty about the currency and make it slightly weaker.He added that the move could ultimately lead to uncertainty about the currency and make it slightly weaker.
Torstein Arne Bye, director of economics, energy and the environment at Statistics Norway said that it was considering the complaints, but that it was still planning to start releasing data from 7am from 23 September. Torstein Arne Bye, director of economics, energy and the environment at Statistics Norway said: "We want to publish the statistics early so that people can make use of the data as early as possible when they start work."
"We want to publish the statistics early so that people can make use of the data as early as possible when they start work," he said. Kindergarten
He noted that other countries release data at the same time or even earlier and said that arguments made to the statistics office about having to take children to kindergarten early in the morning did not impress. But Erica Blomgren, chief strategist at SEB in Oslo investor interest in Norway's currency had been falling off recently and this move could serve to make trading even thinner.
She said the new time for the data would make it more likely to be overlooked by traders outside the region, making them even less inclined to trade in the currency and bond markets: "The Scandinavian banks will keep trading but certain speculative accounts from other countries may be deterred."
Aside from such professional arguments, the statistics office said it had received complaints about its negative effect on family life, as it would interfere with taking children to kindergarten early in the morning.
Mr Bye said he had considered this argument - but it did not wash.
He said the office was giving thought to the other objections but was still planning to start releasing data from 7am from 23 September.