⏱ ProPicks AI: June's update is now available. See which stocks are in/out >>>Unlock Stocks

Cautiously Hawkish But No Imminent Hike In Store

Published 09/21/2017, 08:14 AM

As expected, Norges Bank (NB) left the sight deposit rate unchanged at 0.50% this morning . The Board maintained the neutral bias formally introduced in the statement in September 2016, and reiterated that the 'current assessment of the outlook and the balance of risks suggests that the key policy rate will remain at today's level in the period ahead'. The decision was unanimous.

The upward revision of the rate path published in the Monetary Policy Report (MPR) was a small surprise. However, we do not see it as a game changer for our EUR/NOK range call. For FI/rates, we reiterate our strategy of a FRA Fly and NOK IRS 5Y/5Y versus EUR.

Taking our own estimates into account, we still expect NB to hike rates towards the end of 2018. Market pricing is now fully aligned with this view, with the first hike fully priced in around end-November 2018.

To read the entire report Please click on the pdf File Below:

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.

Which stock should you buy in your very next trade?

AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?

Unlock ProPicks AI

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.