Created
: 2024.09.10
2024.09.10 21:59
The last important data are due today before next week's Norges Bank meeting: Inflation figures for August, Commerzbank's FX analyst Antje Praefcke notes.
"The underlying trend, especially for core inflation, is still quite high. The annual rates were 2.8% for the headline rate in July and 3.3% for the core rate, i.e. well above the target of 2%. This is unlikely to have changed much in August."
"At its meeting in August, Norges Bank noted that inflation had slowed considerably. However, inflation is still above target, and some factors could contribute to keeping inflation elevated ahead. For Norges Bank, one of these factors is the depreciation of the krone. After all, the weak krone implies inflation risks, but cannot be definitively explained even by Norges Bank."
"The market sees the possibility that Norges Bank, contrary to its projections, could lower the policy rate before the end of the year. These expectations could gain momentum if the inflation figures surprise to the downside today. However, I would be cautious about jumping on this bandwagon. Because as long as the NOK is trading weakly and is repeatedly coming under downward pressure, Norges Bank is unlikely to bring forward first rate cuts."
Created
: 2024.09.10
Last updated
: 2024.09.10
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy