- No, worries remain. Base effects from last year’s drought-induced price spikes mean inflation set to pick up more
- However, forward-looking indicators are rolling over, so next year will see durably slower inflation
- Still likely that the Riksbank will call off planned rate rises, in our view
- CPI-ATE rounded up to 2.2 percent in September; marginally above expectations
- Deviation too small to affect the trajectory of the key policy rate path
- We continue to believe the base case is for Norges Bank to keep its policy rate on hold
- Core inflation (CPI-ATE) hovering around target
- The budget proposal should be a non-event for financial markets
- Norges Bank to keep its policy rate unchanged for the foreseeable future
- Inflation to have eased further in September, but near-term pickup awaits despite growth outlook doom and gloom
- A longer-lasting drop in inflation is not expected to take hold until next year
- Production growth to have stayed on downward trend, reinforcing our below-consensus GDP forecast
- Another disinflationary month
- Big four euro countries drive down inflation
- Ongoing disinflation strengthens ECB doves
- CPI inflation down to 1.7% and core CPI inflation down to 1.5 percent in August
- Inflation below market expectations, but roughly in line with the BoE forecast
- We expect the BoE to sit perfectly still tomorrow