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Aug 2020 Review: Maintaining Cautious Optimism

NORGES BANK
  • As expected, the Norges Bank kept its key policy rate unchanged at 0% in a unanimous decision at the August meeting.
  • The decision and accompanying statement did nothing to change analysts' views on future Norges Bank policy, with broad expectation that rates will be on hold for the foreseeable future, with the next move being a hike, either in 2021 or 2022.
  • Market reaction was muted, given that the decision was well-anticipated.

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