Norges Bank could refrain from cutting rates – Danske Bank

FXStreet (Edinburgh) - Senior Analyst at Danske Bank Pernille Nielsen does not expect the Nordic central bank to cut rates in this week’s meeting.

Key Quotes

“It is a close call but we expect NB to leave rates unchanged this week despite the recent deterioration in the economic outlook”.

“If today's releases add to the picture of a slowing economy, this could extend the current positive momentum in EUR/NOK ahead of the meeting”.

“Still, we expect it will take more – such as a renewed sell-off in oil – than just a tick higher in the unemployment rate to bring forward the NB cut we expect in June”.