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Norges Bank likely to remain on hold this week – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to analysts at Danske Bank, the Norges Bank could refrain from easing further at its meeting later this week.

    Key Quotes

    “We expect Norges Bank to leave rates unchanged on Thursday. There have been few important data releases since the September meeting and most economic figures are close to Norges Bank’s September projections with a few important exceptions:”.

    “1) The 2016 fiscal budget was more expansionary than expected, 2) global rates are lower as central banks of close trading partners have eased or are expected to ease, 3) private consumption is looking weaker, 4) manufacturing downturn is decelerating and 5) the NOK is weaker than projected”.

    “We expect Norges Bank to reiterate its September easing bias but that the statement is otherwise balanced with no clear signals that the bank is planning to cut in December”.
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