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JP Morgan See Little Chance of Change to Forward Guidance

NORGES BANK
  • JPM see policy unchanged and think the Norges Bank's forward guidance is unlikely to change much. Instead they think that the central bank wants to wait to assess more incoming data ahead of its September meeting, when also new forecasts will be published.
  • They continue to expect the Norges Bank keeping the policy rate unchanged this year and in 2021, and currently see the risks to the Norges Bank's policy rate projection from June as balanced or slightly to the upside of an earlier hike in 2022, if economic developments do not deteriorate.

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