NOK: Remain bullish into the Norges meeting - Nomura

Research Team at Nomura expects Norges Bank to leave rates unchanged at its next meeting (15 December).

Key Quotes

“Modest downgrades of the growth and inflation outlook are possible, with developments since the last meeting showing a slight slowing of momentum. However, we do not expect this to change the more optimistic stance taken by Norges Bank at the September meeting. Q3 BOP data show the flow picture turning more NOK positive. Provided oil prices stay around these levels or higher, we think NOK can strengthen with EUR/NOK falling towards 8.80 in coming months.”