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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:
- Bank held rates unchanged, confirming a return to gradualism
- March namechecked as the next most likely hike
- Softer language on rates could mean 3.00% is the peak of the cycle
Full review including summary of sell-side views:
The Norges Bank kept the deposit rate unchanged at 2.75%, alongside majority expectations. The decision marks the first time since the accelerated pace of tightening last year that the bank have declined to hike rates. The bank similarly confirmed a return to gradualism for monetary policy, acknowledging that the inflation backdrop necessitates further tightening, albeit it at a slower pace.
This sets up the Norges Bank for March’s meeting, at which they will likely add a further 25bps, but stop short of earmarking another hike over the coming quarter. What should follow is a more prolonged period of unchanged policy, with previous rate hikes continuing to work their way through to increasingly sensitive households.
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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