“Productivity growth is strong and one cannot rule out the possibility that the growth in the labour force will be higher over the coming years than we have previously assumed, partly due to the government’s proposals for tax and labour market policy reforms.
“Moreover, the oil price has fallen. It therefore appears as though inflation will remain subdued,” Rosenberg said.
“All in all, I therefore see no reason today to proceed more quickly with
the interest rate increases than the markets were expecting (in) the weeks
prior to the monetary policy meeting in December,” she added.