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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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The Norges Bank have hiked 25bps to 4.25% as expected and the policy path has been shifted up through Q4 2026.
- The Norges Bank note "there will likely be one additional policy rate hike, most probably in December", dependent on economic developments.
- However, the rate path indicates a Q4 2023 rate of 4.31% (indicating a ~25% chance of another hike this year).
- The new terminal rate (forecasted to be held from Q1 2024 to Q2 2024) is 4.44% (vs 4.21% prior), with 3bps of cuts priced into Q3 2024.
- Most of the analyst previews we read expected a broadly unchanged/slightly upwardly adjusted rate path. The new path is therefore more hawkish than expected.
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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