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Handelsbanken: Expect first hike in July 2023

RIKSBANK
  • “Our forecast has been that the first policy rate hike in this cycle would ultimately come in Nov 2023. However, following our new more hawkish ECB view - i.e. unrelated to [yesterday’s] Riksbank announcement - we now change our Riksbank forecast to see the hike coming in July 2023.”
  • “Regarding asset holdings, we stick to our long-standing call that the Executive Board majority will change and that quantitative tightening, QT, will start in H2 2022. Expect an announcement at the April meeting.”

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