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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:
- Guidance dictates Norges Bank should keep rates unchanged, opting for a December hike instead
- Markets and sell-side analysts are well primed for a peak rate of 4.50% by year-end
- September’s MPR showed the bank foresee the possibility for rate cuts from H2’24
Full PDF preview including summary of sell-side views here:
The bank followed through with their guidance and hiked rates by a further 25bps at the September meeting, signalling strongly that the next opportune meeting for further tightening will come in December, when the Bank have their next set of economic projections and rate path projections. As such, an unchanged decision is wholly expected and well priced for November, leaving markets to look through this month’s rate-setting decision.
Figure 1: September MPR pointed to likely final hike in December
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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