17 Jun 2015
SNB expected to hold policy, Norges Bank rate cut expected – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the SNB and Norges Bank policy decision scheduled to be released tomorrow.
Key Quotes
“The Swiss National Bank and Norway's central banks meet tomorrow. The SNB is not expected to change policy, but it may introduce an element of forward guidance, which would be aimed at ensuring investors that policy will be easy for a long time. Meanwhile, as an aside, the SNB's 7-day dollar repo rate ended higher at 64 bp from 62 bp.”
“The outlook for the Norges Bank is a close call. Prior to last week's capex news, the market seemed comfortable with a 25 bp rate cut that would bring the deposit rate to 1.0%. We still think that is the risk.”
Key Quotes
“The Swiss National Bank and Norway's central banks meet tomorrow. The SNB is not expected to change policy, but it may introduce an element of forward guidance, which would be aimed at ensuring investors that policy will be easy for a long time. Meanwhile, as an aside, the SNB's 7-day dollar repo rate ended higher at 64 bp from 62 bp.”
“The outlook for the Norges Bank is a close call. Prior to last week's capex news, the market seemed comfortable with a 25 bp rate cut that would bring the deposit rate to 1.0%. We still think that is the risk.”