Norges Bank to resume its tightening cycle in June

As was widely expected, the Norges Bank left interest rates on hold at +0.75% today and all but confirmed that “the policy rate will […] be raised in June”. After June, we forecast two more rate hikes in 2022 and one per quarter next year, which would leave rates at 2.50% by end-2023. However, the balance of risks is still skewed towards the Bank front-loading its efforts.

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