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Norway going it alone, but tightening cycle to be short

In a week when the Fed called time on its tightening cycle, and further signs of weakness in euro-zone activity lent extra support to our view that the ECB will ultimately have to do more to ease policy, the Norges Bank stands out as a rare example of a central bank in tightening mode. Meanwhile, as expected, policymakers in Switzerland and Iceland left interest rates on hold at their meetings this week.

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