Norges Bank was very clear that rates were to be lowered once in Q2, but said it was as likely to happen in May as in June. The March inflation figure will be the last inflation figure before the May meeting and running inflation will strengthen the argument for a rate cut in June.“We forecast core inflation to rise from 2.4% last month to 2.6% in March, compared to Norges Bank’s forecast at 2.4% and consensus at 2.3% (Bloomberg. Reuters is 2.4%). Higher than expected March inflation strengthen our view for a June cut rather than a May cut.” – said Nordea Research in a report on Thursday 

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