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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORGES BANK
- Norges Bank hikes rates by 50bps to 3.75%, alongside MNI expectations, and flags that the key rate will likely be raised further in August.
- Full Norges Bank statement here: https://www.norges-bank.no/en/topics/Monetary-poli...
- New rate path shows higher peak rate, up to 4.21% in Q4'23 and Q1'24, with end-horizon rate boosted to 2.88% from 2.54% in March. That's a 61bps upgrade for the peak rate from the March report.
- Immediate strength noted in the NOK, driving EUR/NOK to new daily lows and putting the cross at 11.5538. FRAs also correcting higher to incorporate the tighter rate path profile - the bank adding ~50bps of further tightening across the forecast horizon. Timing of the rate peak itself is broadly unchanged, but suggests rates will be kept higher for longer. Full rate path inc. Basis point changes here:
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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