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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.
EXECUTIVE SUMMARY
- The Norges Bank’s December meeting outcome is likely the closest call amongst all DM Central Banks reporting this week.
- After guiding for one additional rate hike in December at the September meeting, the guidance was softened in November and tied explicitly to macroeconomic outcomes
- On balance, the softening of underlying inflation in the November data alongside trends in activity data and global rate paths should buy the Norges Bank time to adopt a ‘wait and see approach’ in December and deliver a hold.
- If this were to be realised, the revised policy path will still reflect the risk of an additional hike at the January meeting but may show a slightly lower peak rate (vs 4.44% in Q1/Q2 2024 at present).
Our full preview including a summary of 17 sell-side views can be found here:
MNI Norges Bank Preview - 2023-12.pdf
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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