When the US Federal Reserve surprised markets with sharper rate rhetoric earlier this week, it took only hours for the effect to spread to the Oslo Stock Exchange. Several Norwegian asset managers now report growing unease among their clients.
"What makes this situation unusual is that we're seeing similar signals from several central banks at once," says one of the fund managers DN spoke to. "This is no longer one country tightening — it's a global movement."
Norges Bank has not yet commented directly on the development, but analysts expect the topic to dominate the upcoming rate meeting.