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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 raises rates by 25bps to 2.75%, alongside expectations
- Full Statement here: https://www.norges-bank.no/en/topics/Monetary-poli...
- An as-expected decision from the Norges Bank - rates hiked 25bps and more tightening likely before peak rate is reached in H1 next year.
- Path projections are revised lower beyond the peak path estimate of 3.11%, which is unchanged in Q3 next year. Terminal rate downgraded to by 18bps, so effectively pricing an extra 25bps cut as part of the easing cycle from end-2023 onwards.
- Decision does open the possibility for an unchanged decision at the next meeting in January - bank could shift back to only quarterly rate hikes.
- No meaningful response in NOK markets on the decision.
Full path projection update:
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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