In Norway, A Dovish Lift Off

On Thursday, Norway hiked rates for the first time in seven years. This was widely expected, but what wasn't expected was the apparently "dovish" rate path tipped by the Norges Bank. At the press conference, Governor Oystein cited "limits" to how quickly the central bank can raise rates. "There’s a small probability for a hike in December," he said, but noted that "probably", there will be rate hike during 1Q 2019. He cited the currency and the "international situation" as factors that need