Market movers today
In Scandi, today's Norges Banks monetary policy meeting is not expected to bring new signals, see preview . It is one of the 'small meetings' and we expect Norges Bank to repeat the message from March of a forthcoming hike in September, see Scandi section next page.
Main event on the global front is the Euro flash inflation for April. We expect it to remain at the 1.3% level from March and we project core inflation will decline back to 0.9%, due to Easter base effects from 2017 becoming a drag on services prices. A temporary increase in headline inflation in coming months is likely because of energy price inflation, although we expect the underlying price pressure remains subdued going forward.
Also keep an eye on any news from the US-China trade negotiations taking place Thursday and Friday in Beijing, see Bloomberg . Any failure to reach some agreement could lead to a re-escalation of the trade conflict, see also Flash Comment: Trump holding fire as negotiations with China begin , 25 April 2018.
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