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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.
NORWAY
Domestic credit data for August released this morning shows a further slowing in total loan debt to 4.0% Y/Y (vs 4.2% prior).
- There has been a lag between Norges Bank hikes and the recent fall in credit growth, as monetary tightening feeds through the system.
- The majority of credit is derived in NOK, but foreign currency denominated credit growth slowed notably to 0.2% Y/Y (vs 2.8% prior).
- Elsewhere, the 12-month growth in total M3 money supply released today was steady at -1.6% Y/Y.
- NOK has started the week steady against the EUR and SEK, and will take cues from global sentiment until later in the week when the domestic docket picks up (retail sales, Norges Bank FX purchases and September unemployment).
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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