Norges Bank didn't get quite through with its message at the last meeting. What it meant to say was that June’s rate path still holds for the period ahead. This means that we should still expect a hike at the September meeting — in line with the June rate path — given no major change to the overall outlook. Norges Bank moreover said that; “the global risk outlook entails greater uncertainty about policy rates going forward”. This sentence was not put in place with the intent to create uncertainty about the September hike. Norges Bank intended to communicate that there is more uncertain about additional hikes after ... (full story)