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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.
NORWAY
Norges Bank's Q3 Bank Lending Survey, indicates falling corporate credit demand and unchanged credit standards. Expectations for Q4 are for similar trends to hold. The results are somewhat unsurprising given the Norges Bank hiking cycle to date:
- Household sector saw lower mortgage and fixed loan demand in Q3, while credit standards were relatively unchanged. Banks expect an increase in the use of interest-only products in the next 6-months.
- Corporate sector also saw unchanged credit line utilisation and demand for fixed rate loans. Looking specifically at the CRE sector, demand for CRE loans fell while credit standards tightened. Banks reported a higher risk of CRE borrowers breaching "the terms of loan covenants relating to both equity ratios and ICRs".
- NOK did not react meaningfully to the release, but has found some strength in recent trade - with EURNOK down almost 0.3% in the last hour - supported by the USD rolling off intraday highs. EURNOK has risen the last 8 trading days with few domestic data points driving price action and remains firmly above ranges seen through the summer.
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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