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DNB Change View to See 50bps Step at Norges Bank June Meeting

NORGES BANK
  • DNB change their Norges Bank view for the June meeting, seeing a 50bps rate rise vs. their previous view of a 25bps step. They now see Norwegian rates peaking at 4.25% in September.
  • The DNB call is notably hawkish vs analyst consensus and puts DNB as the only sell-side analyst we've seen so far opting for a 'double hike' at the June Norges Bank meeting.
  • Median consensus still looks for a 25bps move to 3.50% at this month's meeting, but further view changes may follow after today's acceleration in CPI-ATE.

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