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    Olsen (Norges Bank) press conf. after the decision (upd)

    • Norges Bank still sees inflation slowdown down the road
    • NOK is stronger than predicted by the Bank
    • gorwth outlook basically unchanged, global gorwth seen as moderate

     Nothing not seen earlier in the statement. For now it seems the passage:

    "there are still prospects that the key policy rate may be reduced in course of the year"

    is the most in terms of news valuable for the market we will get from Norges Bank today.

     NOK focused on a slighlty higher rate outlook provided by the Bank:

    The key rate projection moved:

    for 3Q from 0.41% to 0.48%

    for 4Q from 0.24% to 0.25%

    for 1Q17 from 0.2% to 0.25%

    for 4Q17 from 0.2% to 0.27%

    and this is why the krone is able to hold on to the inital gains.

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