Norway central bank says inflation doubts to keep rates on hold for some time
Updates currency in 3rd paragraph, adds inflation in 6th paragraph, background in paragraphs 8-11
ARENDAL, Norway, Aug 15 (Reuters) -Norway's central bank held its policy interest rate unchanged at a 16-year high of 4.50% on Thursday, as unanimously expected by analysts in a Reuters poll, and said a tight stance will likely be needed for some time to combat inflation.
"Based on our current assessment of the outlook, the policy rate will likely be kept at the current level for some time ahead," Norges Bank Governor Ida Wolden Bache said in a statement.
The Norwegian crown initially weakened but later turned higher to trade at11.75against the euro EURNOK= by 0847GMT, up from 11.76 just before the announcement.
Norges Bank's monetary policy committee in June pushed back its prediction for a rate reduction to the early part of 2025 from September, citing above-target inflation and currency weakness that keeps import prices high.
But it made no mention on Thursday of when it might begin cutting, pointing instead to "uncertainty about future economic developments", and said it was particularly concerned with the inflation implications of the Norwegian crown's movements.
The currency has weakened since June, and whilecore inflation eased in July to 3.3% year-on-year, below the central bank's own forecast of 3.7%, price growth still remains well above the 2.0% target.
"The committee will have received more information about economic developments ahead of its next monetary policy meeting in September, when new forecasts will be presented," Norges Banksaid in a statement.
Economists have been divided over when Norges Bank might start easing monetary policy amid falling global inflation and a lowering of rates elsewhere, with some expecting a cut in the fourth quarter and others pointing to 2025.
A majority of participants in the Aug. 7-12 poll predicted a first rate cut by year-end and four more reductions in 2025 to end next year at 3.25%, below the central bank's June forecast of 3.75%.
Norges Bank is scheduled make its next announcement and present revised long-term rate predictions on Sept. 19.
The Bank of England on Aug. 1 became the latest major central bank to start an easing cycle , cutting rates from a 16-year high and thus following the lead of Switzerland, Sweden, the European Central Bank and others.
Reporting by Gwladys Fouche in Arendal, editing by Terje Solsvik and Toby Chopra
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
