- Policy rate hiked to 1.25% in June, Norges Bank sees next hike by December
- Domestic factors pulled up short-term, while global risks pulled down longer-term
- Norges Bank’s sees 1-2 more hikes, we believe the June hike was the last
Policy rate to be kept unchanged at 1.0%Norges Bank’s Executive Board will meet on Thursday, May 9 to decide on monetary policy. There is no press conference after the May meeting; the central bank’s policy rate decision will be followed by a brief press release and a short assessment from the board about economic developments since March. It is as good as certain that the policy rate will be kept unchanged, at 1.
- No change to policy; the votes were unanimous
- Forecast revisions mixed
- Brexit will prevent further hikes from the BoE, in our view
- Norges Bank hikes the policy rate to 1,00 percent and brings next hike forward
- Domestic activity and NOK pulling up while international factors and wage growth pulling down
- Norges Bank moves closer to our expectation
- Housing prices sideways in February; Oslo up 0.3 percent (seasonally adjusted)
- Prices have risen faster than assumed by Norges Bank over the last few months
- Supports our case for a rate hike in March
- Valutareserven ventes at være faldet med ca. 4 mia. kr. i januar som følge af fortsat - om end mere begrænset - intervention fra Nationalbanken
- Industriproduktionen ventes at være faldet med 1,5% m/m i december
- Vareeksporten ventes at være faldet med 2% m/m i december, mens vi venter en lille stigning i importen