Norges Bank will raise rates aggressively in H2

Today’s decision by the Norges Bank to hike Norwegian interest rates by 25bps to 4.25% leaves rates comfortably in line with the Bank’s own forecast published in March’s Monetary Policy Report. However, given the strength of the latest economic data we expect the Bank to hike rates at each of the remaining five meetings this year, lifting rates well beyond the Bank’s current expectations.

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