Norges Bank and SNB amongst market movers today – Danske Bank

According to Danske Bank analysts, today focus will turn to one of the few central banks still looking for rate hikes, Norges Bank.

Key Quotes

“We expect Norges Bank to hike rates by 25bp.”

“On the global front markets will digest the message from the Fed yesterday but also keep an eye on the rising tensions between Saudi Arabia and Iran.”

“More central banks are up during the day. We look for the Swiss National Bank (SNB) to keep policy rates unchanged at -0.75% despite the ECB cut last week: in light of the move higher in Swiss (and euro) rates after the ECB amid a higher EUR/CHF, we do not see a need for the SNB to test unchartered territory on rates at present. Further, the Bank of England will announce rates but we expect it to stay on hold.”

“In the US, the Philadelphia Fed index will give more clues to the state of US manufacturing. In general US data has had a more positive tilt lately.”