Norway: Norges Bank to keep rates on hold after all
Back in September, Norway’s central Bank signalled that a December rate hike was likely. By November,
U.S. unit labor costs were much weaker than initially thought in the third quarter amid robust worker productivity, providing a boost to the Federal Reserve's fight against inflation. The inflation outlook was further brightened by other data on Wednesday showing a moderation in wage growth in November. "The decline in labor costs points to a further slowdown in services inflation, the last front in the Fed's effort to bring inflation back to 2%," said Nancy Vanden Houten, lead U.S. economist at Oxford Economics in New York.