Norges Bank set to hike rates again in a close call
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Norges Bank set to hike rates again in a close call
The desk anticipates that the Norges Bank will implement a 25 basis point hike to 4.50% during Thursday's meeting, motivated by persistent concerns over inflation despite mixed signals in recent data. According to the comprehensive analysis from ING, while core inflation has lagged behind projections, headline inflation currently exceeds expectations, indicating underlying price pressures in the economy. This issue is further compounded by solid economic fundamentals, such as expected wage growth and overall economic resilience, which support the case for an interest rate increase. With significant global tightening signals from the Federal Reserve and European Central Bank, the Norges Bank may feel additional pressure to act accordingly, especially considering markets have priced in much of the anticipated hike [source].