SOUTH AFRICA: US Ambassador Pressures S. Africa To Meet Five Key Demands

Economists and advisors share their outlook for China's government debt. On MNI Policy MainWire now, for more details please contact sales@marketnews.com

At first glance, mainland GDP and annual wage growth figures from the Q4 national accounts should reaffirm Norges Bank’s cautious approach to further easing. However, there remains plenty of time until the March 26 decision, including updates on inflation and 2026 wage growth negotiations. 

• Norwegian mainland GDP was 0.4% Q/Q (vs 0.1% prior), in line with Bloomberg consensus but a touch below Norges Bank’s 0.5% forecast from the December MPR.
• Annual earnings growth for 2025 was 5.0%, a tenth above Norges Bank’s projections. As previously noted, this is the series that Norges Bank staff forecast for wage growth – and so is the most important series to monitor (compared to last week’s monthly basic earnings data, for example).
• The 5.0% outturn is comfortably above the 4.4% estimate from the Q4 Regional Network Survey, and broadly in the middle of the wages and salaries/compensation of employees metrics in the national accounts.

Sovereign rating reviews of note from after hours on Friday include:

• Fitch affirmed the Czech Republic at AA-; Outlook Stable
• S&P affirmed Austria at AA+; Outlook Stable
• Morningstar DBRS confirmed Slovakia at A (low), Stable Trend
• Scope Ratings upgraded Cyprus to A, Outlook Stable