Jonas Goltermann, Developed Market Economist at ING, points out that today’s statement of Norges Bank indicates an unchanged policy stance, repeating the guidance that the next hike will most likely come in the first quarter of 2019.
Key Quotes
“The key assessment from policy statement indicates that:
“The Executive Board’s assessment of the outlook and balance of risks imply a gradual increase in the key policy rate. Economic growth has been a little lower and inflation somewhat higher than projected, but the outlook and the balance of risks do not appear to have changed substantially since the September Report.”
“With little news in today’s communication, the krone and short-term rates are largely unchanged.”
“So long as the Norwegian economy stays on track, and the rest of the world doesn’t fall off a cliff, we expect the NB will follow through on the Q1 hike.”
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