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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:
- Main Policy Rate raised by 25bps to 0.75%, alongside expectations
- Bank name checked June, giving greenlight to hike at every quarterly forecast meeting
- Governor Bache stresses Bank could hike 50bps, but curve leaves little chance
Full piece here:
The Norges Bank stuck to their guidance and raised rates by 25bps to 0.75% in March. The bank also name-checked the June meeting as the next most opportune time to tighten policy and signaled a further three hikes this year, bringing end-2022 rates to 1.50%. The 2023 rate path was modestly more hawkish than forecast, with policy now seen rising well north of neutral, to 2.50% by end-2023. This reinforces expectations that the Bank will follow through with a rate hike at each policy report meeting (March, June, September, December) across both 2022 and 2023.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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