1020 GMT - The Norges Bank rate decision on Thursday is close to a 50/50 call, although Nordea leans towards a hike to 4.50%. On the one hand, core inflation has surprised on the downside in recent months, chief economist Kjetil Olsen writes. Combined with signs of somewhat weaker capacity utilization, this argues for waiting until more information is available on both inflation and activity before tightening further, he says. On the other hand, inflation is still too high. Energy prices have risen sharply since June and market expectations for policy rates across Norway's trading partners have shifted materially higher. "There are therefore credible arguments on both sides, and we expect these to feature prominently in the monetary policy committee's deliberations."
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