March 21, 2024 09:06 GMT
Rates Unchanged, As Expected
NORGES BANK
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Norges Bank hold rates at 4.50% as unanimously expected. Full statement here: https://www.norges-bank.no/en/topics/Monetary-poli...
- The policy rate will likely need to be maintained at the current level for some time ahead
- High wage growth and the krone depreciation through 2023 will contribute to keeping inflation elevated ahead.
- If cost inflation remains elevated or the krone turns out to be weaker than projected, inflation may remain high for longer than currently projected.
- In that case, the Committee is prepared to raise the policy rate again. If there is a more pronounced slowdown in the Norwegian economy or inflation declines more rapidly, the policy rate may be lowered earlier than currently envisaged.
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