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MNI BRIEF: Norges Bank Holds, Sees Cuts Starting Q1 2025

Norges Bank policy unchanged policy with fresh steer on timing of first cut

MNI (LONDON) - Norges Bank left its policy rate on hold at 4.5%, as widely expected, and said the first cut this cycle was likely to come in the first quarter of 2025.

Analysts have been split over whether the Norwegian central bank will begin easing in late 2024 or early 2025 but its own projections show a tilt to the latter, with Governor Ida Wolden Bache stating policymakers "will probably keep the interest rate at 4.5% for the rest of the year," but adding "the time to lower the interest rate is approaching."  (see MNI NORGES WATCH: Soft Krone Complicates 2024 Cut Signalling )

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MNI (LONDON) - Norges Bank left its policy rate on hold at 4.5%, as widely expected, and said the first cut this cycle was likely to come in the first quarter of 2025.

Analysts have been split over whether the Norwegian central bank will begin easing in late 2024 or early 2025 but its own projections show a tilt to the latter, with Governor Ida Wolden Bache stating policymakers "will probably keep the interest rate at 4.5% for the rest of the year," but adding "the time to lower the interest rate is approaching."  (see MNI NORGES WATCH: Soft Krone Complicates 2024 Cut Signalling )

Keep reading...Show less