NOK to strengthen after the Norges Bank decision – ING

Market news

23 March 2023

NOK to strengthen after the Norges Bank decision – ING

Economists at ING expect Norges Bank to hike the policy rate by 25 bps to 3.00% as they have been signalling. The Norwegian Krone is set to enjoy gains today.

NB could revise the peak rate higher

“We expect a hike in Norway by 25 bps as previously announced and widely expected. Norges Bank will also publish the updated rate projections, which currently embed only another 10bp worth of tightening.

“We think NB could revise the peak rate higher on the back of higher inflation and despite the recent turmoil, if nothing else to counter the recent NOK weakness. We expect gains in the Krone today.”

See – Norges Bank Preview: Forecasts from five major banks, 25 bps hike, but there could be a hawkish surprise

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