US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Swedbank: Possibility of May Hike Should Be Close to Non-Existent

NORGES BANK
  • Not much should be expected from Norges Bank. The main message this coming Thursday will be that the policy rate “most likely” will be hiked by another 25 bps to 1.0% in June, as was communicated in March. But we will keep an eye out for any hints whether double or interim hikes could be on the cards, should inflation dynamics continue to firm ahead.
  • Put simply, Norges Bank would prefer to already have the policy rate at a ‘normal’ level. Indeed, should Norges Bank have published a new rate path this week, our calculations suggest they could have added another 40 bps to the rate path. And as the pressure to normalize is immediate, it would add little value to pencil in further hikes in 2024. Hence, there will be a continued front-loading bias for Norges Bank ahead.
  • The possibility of a May hike should be close to non-existing. Nonetheless, we believe Norges Bank prefers to hike at interim over doing 50 bps hikes, as this would be more in line with their preferred ‘gradual approach’.
Homepagemarkets-real-timeNorges Bank Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.