According to Erik Johannes Bruce, analyst at Nordea Markets, Norges Bank didn’t get quite through with its message at the last meeting and it meant to say was that June’s rate path still holds for the period ahead which implies that we should still expect a hike at the September meeting “” in line with the June rate path “” given no major change to the overall outlook. Key Quotes “Norges Bank moreover said that; “the global risk outlook entails greater uncertainty about policy rates going forward”. This sentence was not put in place with the intent to create uncertainty about the September hike. Norges Bank intended to communicate that there is more uncertain about additional hikes after the September meeting (going forward).” “Governor Olsen use the word further ahead instead of going forward in a video explaining their decision making it clearer that the uncertainty affect its view on rates after September (sorry only on the webpage in Norwegian).” “Still, we read lots of comments which interpret this as the end of the tightening cycle for now. Moreover, the market is pricing only in an 8bp higher benchmark rate (4-5bp for the September meeting). We believe this is either based on a misunderstanding of Norges Bank ´s communication, or an assumption that new information in the coming month will be so weak that Norges Bank will change view.” “The global risk picture has forced Norges Bank to move slower with the tightening cycle than it otherwise would. However, domestic factors have driven Norges Bank to continue tightening even in the presence of greater global uncertainty. We still expect this to be the case looking ahead. Therefore, we advise to keep your focus on domestic figures if you want to know when the tightening cycle will end.” 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 Ethereum co-founder Vitalik Buterin: Blockchain “is much bigger than just Bitcoin” FX Street 3 years According to Erik Johannes Bruce, analyst at Nordea Markets, Norges Bank didn't get quite through with its message at the last meeting and it meant to say was that June's rate path still holds for the period ahead which implies that we should still expect a hike at the September meeting "” in line with the June rate path "” given no major change to the overall outlook. Key Quotes "Norges Bank moreover said that; "the global risk outlook entails greater uncertainty about policy rates going forward". This sentence was not put in place with the intent to create uncertainty… Regulated 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.