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Norway's Central Bank to Stand Pat for The Time Being, Says Commerzbank
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Last updated: 04/02/2025 11:59:00
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Last updated: 04/02/2025 11:59:00
11:59 AM EDT, 04/02/2025 (MT Newswires) -- Norway's Norges Bank left the policy rate unchanged last week as expected, said Commerzbank.
After all, the interest rate path from December didn't necessarily imply an interest rate cut in March. The new interest rate path now signals slower and smaller interest rate cuts over the projected time horizon until the end of 2027, wrote the bank in a note to clients.
The policy rate is still expected to be lowered this year, but Norges Bank isn't giving any details on the timing, stated Commerzbank.
Norges Bank sticks to its anti-inflationary policy and is reacting in an exemplary manner to the higher inflation rates at the beginning of the year by postponing the first interest rate cut, pointed out the bank. The further development of inflation will show if and when the next interest rate move will come.
Commerzbank thinks that Norway's central bank won't lower rates until June at the earliest, when it presents its new monetary policy report. Until then, it will have three more months of inflation data -- March to May -- and more information about the trade conflict and its economic impact.
The krone should remain stable in the coming months and be able to defend its gains, with a slight upward trend, added the bank.
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