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:
- Main Policy Rate kept unchanged at 0.25%, alongside expectations
- Bank continue to point to December as when the key rate will likely next be raised
- Economic upturn developing "broadly as expected"
MNI Norges Bank Review Nov 2021.pdf
Having hiked policy rates in September from post-pandemic emergency levels, the Bank kept policy unchanged in November, flagging December as the most opportune time to raise rates further. The decision was wholly inside expectations, keeping market assumptions and asset prices broadly unchanged.
In the short accompanying policy statement, the Bank cited confidence in the economy's upswing through the rest of 2021, with a higher domestic vaccination rate countering the rise in infection levels. They acknowledged that while underlying inflation remains low, burgeoning wage pressures and persistently high activity levels will feed into an inflation rate that creeps back towards their 2% target.
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.