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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.
Executive Summary:
- With inflation, growth and the progression of the pandemic & vaccination drive well within the Norges Bank's confidence bands, the Bank are likely to double down on the September meeting for rate lift-off.
- This leaves August's decision as a final pause before an extended tightening cycle.
- There are no new rate path projections or growth forecasts due, keeping focus on the statement messaging.
Full preview here:
In June, the board specifically name-checked September as the most probable meeting at which to start normalizing rates. The accompanying policy statement made clear that the conditions needed for a return to "economic normalization" are fast approaching, and as such, higher policy rates are needed across the forecast horizon.
Figure 1: June's terminal rate boosted to 1.56%
Source: MNI/Norges Bank
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.
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