- This creates doubt interest rate cuts – OBI Online

Swedbank believes the current macro figures are so strong that Norges Bank will keep interest rates unchanged in September, the krone will strengthen to 9.2 to 9.3 against the euro within two months.

– This is good number. Especially Nav unemployment fell again in July, and the data now show that the number of unemployed peaked in February. There is a significant turnaround from the clearly rising unemployment last year, until now largely falling unemployment, says Øystein Børsum, senior economist at Swedbank, according to TDN Finans.

Børsum is also pleased with the figures from Statistics Norway’s business tendency survey, and think the crown will strengthen over the next few months the same with an unchanged interest rate from Norges Bank in September:

– This means that both interest and krone will strengthen. Explicitly, we believe that euro-Norwegian-crossing should not be on 9.5, it is not a proper price for these numbers. There should be at 9.2 to 9.3 by the end of September, said Børsum, according to the news agency.

Critical

chief economist at Handelsbanken Capital Markets, Kari Due-Andresen, said in turn that the numbers are not as good as one can get the impression, and maintains the belief rate cuts.

She believes that although the unemployment rate remained stable, indicating LFS figures that this is primarily driven by a reduction in the workforce.

– We suspect that unemployment has stabilized because people prefer out of the labor market, not because employment picks up. Although unemployment rate is slightly better than expected, it is in this case for the wrong reasons, said Due-Andresen TDN Finans.

She thinks about the fact that the interest rate cut will come in September, according to Norges Bank has previously indicated .

I doubt

Chief Analyst at Nordea Markets, Erik Bruce, shows that the trend of unemployment rate has been quite flat since January, while most, including Norges Bank, thought it would rise.

This thinks he can cast doubt on the interest rate cut.

– I do not think this is enough to prevent a September cut, but it creates a little more doubt about it. Norges Bank was also quite clear that there will be cuts in September and it will pretty much take for them to fail to follow the interest rate forecast, he said, according to news agency.

Read more about LFS figures here and NAV figures here.

Read more about the economic barometer here, and the retail figures here.