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Hawkish Addition To Policy Statement

NORGES BANK
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Highlights from the policy statement:

  • Main guidance unchanged: “Based on the Committee’s current assessment of the outlook, the policy rate will likely be kept at today’s level for some time ahead”.
  • But a hawkish addition here: “ The data so far could suggest that a tight monetary policy stance may be needed for somewhat longer than previously envisaged”.
  • “Since the March Report, inflation has been slightly lower than projected. On the other hand, economic activity is slightly higher than expected, and wage growth may turn out to be slightly higher than projected”.
  • Last paragraph continues to flag two-way risks to the policy rate.
  • Policy statement link here.
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Highlights from the policy statement:

  • Main guidance unchanged: “Based on the Committee’s current assessment of the outlook, the policy rate will likely be kept at today’s level for some time ahead”.
  • But a hawkish addition here: “ The data so far could suggest that a tight monetary policy stance may be needed for somewhat longer than previously envisaged”.
  • “Since the March Report, inflation has been slightly lower than projected. On the other hand, economic activity is slightly higher than expected, and wage growth may turn out to be slightly higher than projected”.
  • Last paragraph continues to flag two-way risks to the policy rate.
  • Policy statement link here.