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NEW CALL: Nordea looks for 6x25bps cuts in 2024 - first in May

RIKSBANK

Nordea has just updated its Riksbank policy rate forecast, noting that it's inflation forecast is now lower and similar to the Riksbank's November "alternative scenario":

  • "First 25bp rate cut in May 2024 to 3.75%."
  • "Five additional rate cuts during 2024 and a policy rate at 2.50% in December 2024."
  • "Unchanged policy rate during 2025 at 2.50%."
  • "No changes to the bond sales forecast."

"Our previous forecast was a first rate cut in September 2024, and the policy rate at 3.50% year-end 2024 and 2.50% year-end 2025."

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