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Japanese MOF sells Y4.7714tn 3-Month Bills:


Long End Leads The Morning Bid


Very Modest Bid Seen

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NORGES BANK: As part of their May 2020 monetary policy update, Norges Bank
revise their rate path projections for the coming years:
- Sees 2020 key policy rate 0.4% vs. 1.0% in the March update
- 2021 policy rate at 0.0% vs. 0.7% in March update
- 2022 policy rate at 0.0% vs. 0.8% in March update
- 2023 policy rate at 0.0% vs. 0.9% in March update
GDP forecasts also revised lower:
- 2020 at -5.2% vs. +0.4% in March update
- 2021 at +3.0% vs. +1.3% in March update
Full PDF from NB here:
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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