Analysts at TDS suggest that they’re in line with nearly unanimous consensus in looking for the Norges Bank on hold at 0.50% today.
Key Quotes
“We do expect today’s decision to cement the Norges Bank’ position as one of the most hawkish central banks in Europe as it sticks to its forecast of a September rate hike. But while in March the Norges Bank was predicting nearly 3 full rate hikes by the end of 2019, we think that’s likely to be softened slightly to just over 2 hikes in order to limit policy divergence with the ECB.”
“In the wake of last week’s dovish ECB decision, we think that the message from the Norges Bank will still come across as hawkish due to the divergence in messages on rates, and we’ve now turned bullish on NOK.”
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