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MNI INTERVIEW: Norges Head Sees No Risk Skew In Bank Rate Path

Norges Bank Governor Ida Wolden Bache tells MNI about new rate path, krone forecasting.

MNI (OSLO) - Norges Bank does not see any meaningful skew in the balance of risks to its updated rate path despite sharp swings in rate expectations for the Federal Reserve and and the ECB, with an approaching easing cycle for the Oslo-based central bank most likely to start in Q1 2025, although there is still some chance it could come in late 2024 or even be delayed, Governor Ida Wolden Bache told MNI Thursday.

"If we had intended to communicate a certain tilt to that balance (of risks) we would have done so. We have a very precise interest rate forecast. It is slightly lower now in the fourth quarter than it was in the June report and it is also slightly lower than 4.5% so that communicates the base scenario quite precisely," she said in an Interview.

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MNI (OSLO) - Norges Bank does not see any meaningful skew in the balance of risks to its updated rate path despite sharp swings in rate expectations for the Federal Reserve and and the ECB, with an approaching easing cycle for the Oslo-based central bank most likely to start in Q1 2025, although there is still some chance it could come in late 2024 or even be delayed, Governor Ida Wolden Bache told MNI Thursday.

"If we had intended to communicate a certain tilt to that balance (of risks) we would have done so. We have a very precise interest rate forecast. It is slightly lower now in the fourth quarter than it was in the June report and it is also slightly lower than 4.5% so that communicates the base scenario quite precisely," she said in an Interview.

Keep reading...Show less