Norges Bank to deliver a 25bp rate cut on 19 March: Danske Bank

Quotes from Danske Bank:

-While we see limited downside risk to the oil price, we - like the speculators - do not expect triple-digit oil prices any time soon and forecast Brent crude to only gradually recover towards USD76/bbl in Q4 15.

-However, in light of the significantly lower oil price relative to Norges Bank's December projections and the recent easing of monetary policy of close trading partners (e.g. the Riksbank) we still expect Norges Bank to deliver a 25bp rate cut on 19 March.

-This should temporarily weigh on the NOK as market participants only price in a 60% probability of our call materialising.