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MNI BRIEF: Norges Bank Hikes 50 bps; May Slow To 25bps Hikes

(MNI) London
(MNI) London

Norges Bank' Monetary Policy and Financial Stability Committee hiked 50 bps to 2.25% and foresaw slower tightening ahead.

True

Norges Bank delivered an as expected 50 basis point hike, lifting the policy rate to 2.25% Thursday, publishing a rate profile suggesting that the benchmark rate should peak just over 3% before dipping. The Monetary Policy and Financial Stability Committee said the policy rate was most likely to be raised again in November, with its detailed rate profile suggesting that after this latest 50bps hike, it may move in 25bps steps.

The policy rate was projected to peak at 3.11% in 2023 and to hold close to 3% in 2024 before dipping to 2.56% at the end of the three year forecast.

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Norges Bank delivered an as expected 50 basis point hike, lifting the policy rate to 2.25% Thursday, publishing a rate profile suggesting that the benchmark rate should peak just over 3% before dipping. The Monetary Policy and Financial Stability Committee said the policy rate was most likely to be raised again in November, with its detailed rate profile suggesting that after this latest 50bps hike, it may move in 25bps steps.

The policy rate was projected to peak at 3.11% in 2023 and to hold close to 3% in 2024 before dipping to 2.56% at the end of the three year forecast.

Keep reading...Show less