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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 held policy rates at 4.50%, as unanimously expected. The updated policy path saw only minor changes through 2024, with the Norges Bank’s guidance re-iterating that rates will be “maintained at the current level for some time ahead”.
- The MNI Markets Team had expected a small downward revision to the rate path, so we were surprised that the Q2 2024 rate was only revised 4bps lower to 4.51%, while the 2025/2026 path was revised up to 10bps higher.
- At the press conference, Governor Wolden-Bache confirmed that the first rate cut of 2024 would likely come at the September meeting (rather than November or December).
For our full review, including a summary of 9 sell-side views, see the PDF below:
MNI Norges Bank Review - 2024-03.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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