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Norges Bank and Riksbank nearly done

Following today’s rate hikes, the Riksbank and Norges Bank are now at, or close to, the end of their tightening cycles. Both central banks’ new projections suggest that they are more likely than not to raise rates one more time. But whether or not they follow through, the bigger picture is that we expect both banks to cut rates sooner and faster in 2024 than their new projections imply.

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