The mechanical adjustments are likely going to lead to a hawkish revision of the Norges Bank rate path tomorrow unless the subjective layer is used to send another signal. Risks tilted towards a hawkish take-away.
![Norway Watch: Cheat sheet to assessing Norges Banks rate path](https://stenoresearch.com/wp-content/uploads/2023/06/Watch-Series-–-Coverart-1080x675.png)
The mechanical adjustments are likely going to lead to a hawkish revision of the Norges Bank rate path tomorrow unless the subjective layer is used to send another signal. Risks tilted towards a hawkish take-away.