February 22, 2018 / 2:28 PM / a year ago

UPDATE 1-DNB Markets expects Norges Bank to hike rates earlier than before

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OSLO, Feb 22 (Reuters) - Norwegian brokerage DNB Markets now expects Norges Bank to hike its interest rates in December 2018 rather than in March 2019 as it previously thought, it said on Thursday.

“We move forward the first rate hike by Norges Bank to Dec-18 (from Mar-19) as the central bank reiterates their intention to hike despite inflation below target,” DNB Markets said in a monthly review.

“Moreover, revised housing data indicates that house prices might rise again already this year.”

DNB Markets also raised expectations for rate hikes in the United States to four, from three, in 2018.

Its view on the rates set by the European Central Bank was unchanged, seeing the first ECB hike in March 2019 and quantitative easing ending by September 2018.

Its forecast on EURNOK was kept unchanged at 9.20 in 12 months. (Reporting by Ole Petter Skonnord, editing by Gwladys Fouche)

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