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NORGES BANK
Norges Bank raise rates by 25bps to 0.25%, exiting their emergency pandemic policy stance. While the rate hike was expected, the bank also name-checked December as the next likely month to see a raise in rates, and also steepened the longer-end of the rate path projections - boosting the terminal rate to 1.68% from 1.56%.
Key takeaways from the policy statement:- Capacity utilisation appears to be close to a normal level
- Increased activity and rising wage growth will help push inflation up towards the inflation target of 2 percent
- The policy rate will most likely be raised further in December
Policy assessment here: https://www.norges-bank.no/en/topics/Monetary-poli...
New Norges Bank rate path:
Source: MNI/Norges Bank
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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