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D-day looms for Norges Bank as the SNB watches on

While the Swiss National Bank is set to leave interest rates on hold yet again next Thursday, the Norges Bank will finally pull the trigger on its tightening cycle. Given the backdrop of global risks such as the Delta variant and supply issues, we suspect that policymakers will portray the move as a dovish hike. However, we still expect they will raise the policy rate by more than investors expect next year.

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