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Nordea Expect No Strong Signals From Norges Bank For Now

NORGES BANK
  • Nordea do not expect any strong signals from the central bank now as they will wait until September. Market reactions will be muted.
  • Overall, they expect that the Committee will reiterate their message from June; that "the policy rate will most likely remain at today's level for some time ahead".
  • They write that if the Norges Bank were to compute a new rate path now, Nordea think they would have made only minor changes, which would be small and not significant enough for the Bank to change its view from June.
  • A pick-up of new corona cases during the last few weeks, both in Norway and among out main trading partners, highlight the uncertainty. They see the Norges Bank emphasising this in their assessment.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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