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Hikes Rates by 25bps to 3.25%, as Expected

NORGES BANK
  • The Norges Bank hikes rates by 25bps to 3.25%, as expected and name-checks the June meeting as the next opportune time to hike rates.
  • Full statement here: https://www.norges-bank.no/en/topics/Monetary-poli...
  • NOK again explicitly mentioned: “If the krone remains weaker than projected or pressures in the economy persist, a higher policy rate than envisaged earlier may be needed”,
  • NOK weakening modestly in response to the decision, EUR/NOK back in minor positive territory: few surprises in the statement, itself, although the Bank possibly more sanguine on the inflation and FX outlook than expected: "economic activity has been broadly in line with expectations. Underlying inflation has been as projected."
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