(Obi.no:) Yesterday’s Fed minutes confirmed the impression that the Fed, in light of the markedsuroen, will now move more carefully forward, according to Erik Johannes Bruce and Nick Pausgaard Fish in Nordea Markets.
be patient
“With a subdued inflasjonstrykk, they can afford to be patient. Interest rates were pulled down somewhat and the USD weakened, but the impression from the minutes is largely in line with recent Federal statements, including the speeches we got yesterday. Today the Powell speech, and he will probably render message”, write the economists in the morgenrapporten.
Progress in handelssamtalene between the united STATES and China continued yesterday. The parties have approached each other in areas such as energy and agriculture are the messages that Bruce and Pausgaard Fisherman have been given.
Stronger-than-expected
The Norwegian inflation in December was, according to Statistics norway (SSB) stronger than expected. The underlying inflation came in at 2.1 per cent over the year.
“It was above both our and Norges Bank’s estimates. Inflasjonstallet strengthens our belief that the next rentehevning probably be in march”, it’s called.
DNB Markets and the consensus expected underlying inflation of 2.0 percent, while Nordea Markets and Norges Bank was at 1.9 per cent.
the Consumer price index (CPI) was unchanged from november to December 2018.
“Especially prisnedganger on food and non-alcoholic beverages as well as the fuel went in the CPI in the downward direction, while the prisoppganger on, inter alia, electricity, flights and furniture contributed to the CPI in total were unchanged on a monthly basis,” writes STATISTICS norway.
Tolvmånedersendringen in the CPI was 3.5 percent in December, while the according to an assembly performed by TDN I thought in advance was expected with an increase of 3.1 per cent.
electricity prices contributed again the most to the rise the last twelve months. Prices of electricity including grid rent was 29,8 per cent higher in December than in December last year, ” says senior advisor in STATISTICS norway, Camilla Rochlenge, in a comment.
the Decline in prices of clothing and flights curbed the growth in the CPI.
also Read: So much rose prices
From the european central bank we get the minutes from the rentemøtet in December.
“the ECB surprised last with a relatively optimistic view on the european economy, in spite of the clear svakhetstegn. The market will likely look to see if there are signals that may indicate new likviditetstiltak”, concludes Bruce and Pausgaard Fisherman in the update.
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