Norway's february core inflation likely to be at 2.4% y/y
Core inflation for February is the last important release before Norges Bank finishes its March interest rate forecast. One could argue that the significant weakening of the NOK towards the end of 2014 suggests an upward…
Core inflation for February is the last important release before Norges Bank finishes its March interest rate forecast.
One could argue that the significant weakening of the NOK towards the end of 2014 suggests an upward revision compared with the December inflation forecast, but we believe it is too early for that.
Nordea notes in a report on Tuesday:
We forecast February core inflation at 2.4% y/y, unchanged from January.
With core inflation at 2.4% or 2.5%, Norges Bank will conclude that inflation has been as expected.
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