Free Trial

MNI BRIEF: Norges Bank Holds, Says May Stay On Hold For Longer

(MNI) London
(MNI) London

Norges Bank left its key policy rate on hold at 4.5% and said it may stay unchanged for longer than it previously envisaged

True

Norges Bank left its policy rate unchanged at 4.5% at its May meeting and stated that it may keep the policy rate on hold for quite some time and longer than it previously envisaged. (see MNI NORGES WATCH: Seen On Hold, No Hardening Of Sep Cut Steer)

The decision to hold policy steady was very widely expected, but the change in guidance to signal a longer plateau, when previously Governor Ida Wolden Bache had stated the first cut was likely to come in September, was a hawkish surprise, in part because the central bank will only complete a full forecast round for next month's meeting.

Keep reading...Show less
172 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Norges Bank left its policy rate unchanged at 4.5% at its May meeting and stated that it may keep the policy rate on hold for quite some time and longer than it previously envisaged. (see MNI NORGES WATCH: Seen On Hold, No Hardening Of Sep Cut Steer)

The decision to hold policy steady was very widely expected, but the change in guidance to signal a longer plateau, when previously Governor Ida Wolden Bache had stated the first cut was likely to come in September, was a hawkish surprise, in part because the central bank will only complete a full forecast round for next month's meeting.

Keep reading...Show less