Norges Bank: The Board expressed concern about the possibility of a premature reduction in the policy interest rate, fearing that inflation could remain high, one reason being that the krona could depreciate.

Norges Bank: The core consumer price index is expected to be 4.1% in 2024, down from the 4.8% forecast in December.

Norges Bank: Non-oil GDP growth is expected to be 0.5% in 2024, an increase from the 0.1% forecast in December.

Norges Bank: Economic activity in Norway is higher than expected and price inflation is lower than expected.

Norges Bank: Business costs have risen sharply in the past few years, and by 2023, high wage growth and the depreciation of the krona will lead to high inflation in the future.

Norges Bank: Price inflation is slowing but remains significantly above target.

Norges Bank: The key policy interest rate is expected to be 3.9% in 2025, the same as the forecast in December last year.

Norges Bank: Monetary policy is having a tightening effect, and Norway’s economic growth is sluggish.

Norges Bank: The key policy interest rate level in 2024 is expected to be 4.4%, slightly lower than the 4.50% forecast in December.

Norges Bank: Current forecasts indicate that the policy rate will remain at 4.5% until the autumn, and then gradually decline.

Vietnamese Government: PepsiCo will invest US$390 million to build two factories in Vietnam.

After the Swiss National Bank unexpectedly cut interest rates, the Swiss blue-chip SMI index rose 1.2% during the day, slightly higher than the European Stoxx 600 index.

After the Swiss National Bank unexpectedly cut interest rates, the Swiss 2-year government bond yield fell, falling 10 basis points to 1.33% during the day.

SNB: Our forecasts for Switzerland and the global economy face significant uncertainties.

Swiss National Bank: Inflation is currently driven mainly by rising domestic service prices.

SNB: According to the latest forecasts, inflation is also likely to remain within this range in the next few years.

SNB: In the short term, this is mainly due to the fact that in some commodity categories, price momentum is slowing down faster than expected in December.

Swiss National Bank: The fight against inflation over the past two and a half years has been effective, making it possible to implement monetary policy easing.

Swiss National Bank: The new conditional inflation forecast is significantly lower than the forecast in December last year.

Swiss National Bank: The Swiss National Bank will also continue to actively participate in the foreign exchange market as needed.