Core Viewpoint - The pre-close call for DNB's fourth quarter highlights the stability in lending volumes and the minor expected impact on net interest income (NII) due to foreign exchange (FX) developments and interest rate adjustments. Group 1: Net Interest Income (NII) and Capital - The number of interest days in the fourth quarter remains the same as in the third quarter, indicating no impact on Q4 NII from day counts [2] - Minor FX developments are anticipated to have a limited effect on NII, with the FX split in the loan portfolio for Q3 being 8% in U.S. dollars, 7% in euros, and 6% in Swedish kroner [4] Group 2: Lending Volume and Credit Demand - Q3 lending volume growth was reported at 0.3% when adjusted for FX, with stable credit demand observed since the end of Q3 for both households and corporates [3] - For the last 12 months, household credit growth was 4.5%, while corporate credit growth was 1.8% as reported by Statistics Norway [3]

Group 1 - The inevitability of recessions is acknowledged, with the Federal Reserve's role being to mitigate their impact as much as possible [1] - The current rise in the unemployment rate is typically observed before recessions, but there is no immediate recession anticipated due to policy rate adjustments [2] - Various economic shocks, including changes in population growth due to border policy, have led to a decrease in the neutral interest rate, necessitating downward adjustments in policy rates to avoid increasing recession risks [3] Group 2 - The expectation is that interest rates will continue to be adjusted downward in the near future [4]

The Bank of England cut its policy rate by 25 basis points to 3.75% as of December 18, in line with expectations, from a previous level of 4.00%. The decision met market forecasts, following the bank’s earlier pause in its quarterly rate-cut cycle that had been in place since August 2024. ...

Thailand’s consumer prices fell for the eighth straight month, heightening pressure on the central bank to cut its policy rate for a fourth time this year https://t.co/rzFj2jNegq ...

In the committee's discussions at this meeting, there were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.Policy is not on a preset. ...

Inflation Trends - Pakistan's inflation accelerated after the government increased domestic fuel prices [1] Monetary Policy Implications - The inflation acceleration vindicated policymakers' decision to keep the policy rate unchanged two days prior [1]