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Norges Bank treads water before rate hike resumption

Following yesterday’s taper announcement by the Fed, and ahead of the knife-edge decision by the Bank of England later today (we forecast a 15bp rate hike), this morning’s announcement from the Norges Bank was less eventful. Norwegian policymakers reiterated that they will “most likely” resume the tightening cycle in December, and we expect them to raise rates a bit faster than investors anticipate next year.

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