Free Trial
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.
MNI Norges Bank Review: December 2023 - The Insurance Hike
MNI Norges Bank Review: December 2023 - The Insurance Hike
EXECUTIVE SUMMARY:
- The Norges Bank followed through with its softened November policy guidance and hiked the policy rate 25bps to 4.50%. The decision was unanimous among the Executive Board.
- Dovish impulses from the Q4 Regional Network Survey, November CPI and the December Fed decision in the run-up to the announcement meant the hike caught markets off guard. NOK strengthened considerably following the decision (EURNOK and USDNOK were almost 1.5% lower in the hour following, while NOK/SEK posted its largest daily gain of 2023) and the Dec 23 – Mar 24 FRA contract rose 17bps.
- Analysts generally agree that the December hike was the Norges Bank’s last, and most reviews we have seen expect cuts to start from June 2024.
Our full review, including a summary of 11 sell-side reviews can be found here:
MNI Norges Bank Review - 2023-12.pdf
Source: Norges Bank Dec '23 MPR
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok