Weak krone probably suits Norges bank

Both oil and the Norwegian krone have shown a steep fall. This may well suit Norges Bank, because lower interest rates in an environment of great uncertainty (timing of Fed rate hike, economic developments in the main trade partner euro zone) are not having the desired effect on investment, as the corporate sector remains cautious. 

According to Commerzbank, "A weak krone will help sectors outside the oil industry, at least in the short term, via improved price competitiveness. At the same time, upward pressure will increase on an inflation rate that is already high, via rising import prices. Therefore, the weaker the krone, the smaller the chance of the Norges Bank cutting interest rates."