Norges Bank: Global turmoil calls for vaguer rhetoric – Danske Bank

Danske Bank analysts suggest that they still expect Norges Bank to hike in September, as they expect key figures to confirm growth above trend.

Key Quotes

“In June, Norges Bank signalled a rate hike in September.”

“Increasing global risk and a mixed picture domestically are set to prevent an explicit reference to September at this meeting but we expect Norges Bank to keep the tightening bias.”

“A hawkish Norges Bank is unlikely to counter the global headwinds currently facing NOK. We stay on the sidelines in EUR/NOK for now.”