Norges Bank, Riksbank expected to stay on hold – Danske Bank

Both Nordic central banks are seen keeping the monetary condisions unchanged at their next meetings, noted Mikael Milhoj, Senior Analyst at Danske Bank.

Key Quotes

“Both the Norwegian and Swedish data calendars are thin ahead of

26 October, the date of the Norges Bank, Riksbank and ECB meetings”.

“In terms of Norges Bank, we think the October meeting will prove a non-event since Governor Olsen and co have very little new information to react to since the September meeting”.

“Also as in September, we do not think the Riksbank will want to send any new messages on rates or QE ahead of the ECB meeting later the same day. While the ECB meeting does pose a risk on 26 October, we think the EUR leg will be fairly hedged via NOK/SEK”.