Property as an asset class was dealt a harsh blow by the credit crunch and the global financial crisis. Since then monetary policy has been injecting copious amounts of liquidity into the financial system to stave off systemic risk, leading to improved opportunities. As real yields from so called risk free assets in the core eurozone hover around zero or […]
Norges Bank surprisingly refrained from cutting its deposit rates lower from 1.25%, following the unscheduled 15 basis cut from the Riksbank yesterday. “There are prospects for a reduction in the key policy rate” said Norges Bank governor Olsen (pictured), especially to sustain Norwegian economy from low oil prices. EUR/NOK plunged to 8.6474 post-decision, pulling out […]
Nordea Markets continues to keep a close eye on the Norwegian currency in light of the ongoing sharp falls in oil prices. The bank expects the pressure to remain on NOK, particularly in regards to falling prices for Brent oil – the benchmark price set for oil extracted from the North Sea. “Brent oil prices […]
Øystein Olsen, head of Norway’s central bank, has been reported saying that the price of oil has now fallen below that contained in Norges Bank’s December macroeconomic outlook report. The comments have been reported by TDN Finans and Dagens Næringsliv following further weakness in global oil prices. At the time, the bank’s projection was for […]
Norway’s central bank, Norges Bank, has confirmed it will become a net buyer of NOK as it executes transfers linked to the assets of the country’s giant sovereign wealth fund – Government Pension Fund Global – helping send the local currency higher on FX markets. The policy is being introduced because of the fact that […]
Cuts to margins on mortgage products by lenders in Norway may yet cause the central bank to tighten its rates, sending NOK higher, says analyst Erik Johannes Bruce at Nordea Markets.
DNB Markets says it does not expect an interest rate change in Norway when that country’s central bank announces its latest rates decision on Thursday this week.
Øystein Olsen, governor of Norges Bank, has said that the country’s sovereign wealth fund, the Government Pension Fund Global, was a key reason global equity markets did not fall further when the financial crisis peaked between 2008-9.
Figures published by the Norwegian Home Builders’ Association (Boligprodusentene) suggest the country’s well known residential property price bubble could continue for another decade because of falling supply even as prices continue to rise.
Norway’s central bank has kept its key policy rate unchanged at 1.5% following the latest meeting of its Executive Board.
The first signs of a topping out of the Norwegian property market may have come in the latest monthly residential property figures, which suggest prices rose just 0.2% in May.
Norway’s struggle to balance the need for more expensive loans to prick a house price asset bubble against its already expensive currency hitting exporting companies has led the government to announce it is focused on fiscal constraint in its latest budget revision.