Norges Bank’s interest rate decision usually comes on Thursday at 10 a.m., but this time it has been postponed by one day.
According to the chief economist at Eika Gruppen, Jan Ludvig Andreassen, there is no doubt what will be the most significant for the wallets of most people here in Norway, and it is the interest rate decision that will come on Friday, writes E24.
He believes that it is a factor that will be decisive for the direction interest rates take in the coming months.
– As Norwegians, we will return to this discussion about the krone exchange rate. The krona has become a “fox-dilter” currency, which really only fiddles with what the Swedes come up with. We get nothing in return for huge oil revenues, he says.
There is speculation as to whether Sweden will lower interest rates in May due to unexpectedly high unemployment figures. Andreassen looks at the signals from the European Central Bank and the American Central Bank to be able to predict the direction of interest rates and stock markets.
– The European Central Bank has signaled strongly that they will cut in June. Perhaps this can make life easier for Norges Bank. It is safe to hope that these cuts will strengthen the krone towards the summer. However, if it doesn’t do that, I don’t think there will be any interest rate cuts in Norway this year, says Andreassen.
He is especially waiting for the signals from the Fed and the jobs figures this week, which could affect the markets further. At the same time, wage growth in the US is closely monitored, as it can give indications of the development of inflation.
– I have faith in interest rate cuts in the US this year, says the economist.
