From MNI's State of Play policy piece...>

NORGES BANK: From MNI's State of Play policy piece on Thursday's decision:

- Norges Bank's Executive Board left policy on hold its October meeting, with

the key rate remaining at 0.75%.

- The big picture is that the Q1 2019 hike remains in place, with debate now

focussed on whether it is most likely to be in January or March.

- MNI's best estimate is that Norges Bank is implying a 26% chance of a December

hike in its collective rate judgement, with the path from the September

quarterly forecast round not altered in October. This month's meeting is an

interim one, with no new rate forecast path announced.

- The key data have been running a little out of synch with Norges Bank's

forecasts, but, while inflation has overshot, growth has undershot, so the

message for policymakers has been ambiguous.

- Bank economists tweaked September's growth and inflation forecasts. They

raised the inflation forecast for the fourth quarter and marginally increased

the growth forecast.

- For more see MNI STATE OF PLAY: Norges Bank Leaves Policy, Path Unchanged