MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

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

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Wage Committee Leaves Inflation Forecast Unchanged

NORWAY
DataHomepageData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

The Norwegian Technical Calculation Committee for the income settlements (TBU) left their 2024 CPI and CPI-ATE forecasts unchanged compared to the preliminary report from mid-February.

  • Average 2024 CPI is seen at 4.1% while the average CPI-ATE is expected at 4.4%.
  • In the December MPR, the Norges Bank forecasted 2024 CPI at 4.4% and CPI-ATE at 4.8%. However, these projections will be updated at next Thursday's meeting/monetary policy report.
  • TBU's forecast for average 2023 inflation (released in March last year) was for CPI at 4.9% and CPI-ATE at 5.3%. The actual figures were 5.5% for CPI and 6.2% for CPI-ATE.
  • The inflation forecast will be used as a basis for 2024 wage settlements, for which negotiatons begin this Friday (15 March) .
  • Norges Bank's December MPR saw annual wage growth at 5.0%, though analysts at SEB have noted downside risks to this projection.
138 words

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.

The Norwegian Technical Calculation Committee for the income settlements (TBU) left their 2024 CPI and CPI-ATE forecasts unchanged compared to the preliminary report from mid-February.

  • Average 2024 CPI is seen at 4.1% while the average CPI-ATE is expected at 4.4%.
  • In the December MPR, the Norges Bank forecasted 2024 CPI at 4.4% and CPI-ATE at 4.8%. However, these projections will be updated at next Thursday's meeting/monetary policy report.
  • TBU's forecast for average 2023 inflation (released in March last year) was for CPI at 4.9% and CPI-ATE at 5.3%. The actual figures were 5.5% for CPI and 6.2% for CPI-ATE.
  • The inflation forecast will be used as a basis for 2024 wage settlements, for which negotiatons begin this Friday (15 March) .
  • Norges Bank's December MPR saw annual wage growth at 5.0%, though analysts at SEB have noted downside risks to this projection.