The Norges Bank kept its policy rate on hold at 0.50% today, as had been nearly unanimously expected and more importantly, it stuck firm to its forecast for a Q3 rate hike, notes Jacqui Douglas, Chief European Macro Strategist at TDS. Key Quotes “On top of that, it also nudged up the amount of hiking that it’s expecting in 2019 from 45bps to 50bps, delivering the message that policy divergence with the ECB is not a major concern. So this was clearly a hawkish outcome.” “Looking at the macro forecasts, the recent (and persistent) downside surprises to underlying inflation led to further downward revisions to core inflation forecasts, while growth projections have been revised higher.” “Today’s Norges Bank decision didn’t bring any big surprises, but does help to cement the Norges Bank’s position as one of the more hawkish central banks in Europe.” “The Norges Bank continues to commit to tightening policy, leaving us more bullish on NOK going forward.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY Technical Analysis: breaks below an ascending trend-line support ahead of BoE FX Street 3 years The Norges Bank kept its policy rate on hold at 0.50% today, as had been nearly unanimously expected and more importantly, it stuck firm to its forecast for a Q3 rate hike, notes Jacqui Douglas, Chief European Macro Strategist at TDS. Key Quotes "On top of that, it also nudged up the amount of hiking that it's expecting in 2019 from 45bps to 50bps, delivering the message that policy divergence with the ECB is not a major concern. So this was clearly a hawkish outcome." "Looking at the macro forecasts, the recent (and persistent) downside surprises to underlying inflation led… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
