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Frederik Ducrozet, industry influencer, highlights that Norges Bank has become the third central bank among the G10 nations to raise interest rates during the current monetary tightening cycle.
According to Ducrozet, the move follows previous rate hikes by the Bank of Japan and the Reserve Bank of Australia.
Ducrozet has previously analyzed euro area PMIs, noting that supply chain pressures had a significant impact on industry while effects on service sector prices were limited (Euro area PMIs show mixed effects from energy prices). He has also pointed to survey data indicating that selling price expectations among enterprises are rising, even as the long-term inflation outlook remains stable and wage growth is slowing (Selling price expectations rise but long-term inflation seen stable, EU Analyst notes). These observations provide context for his commentary on recent central bank rate decisions.