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FXstreet.com (Barcelona) - Norway's C2 credit indicator will be out at 09:00 GMT and for investors with an eye on policy expectations in the country, this is a key barometer. Norges Bank's first meeting is on March 14th, but domestically excessive credit growth could start to push Norges Bank into contemplating macro-prudential measures to avert financial risk.

According to Research Analyst Gareth Berry at UBS, "Perhaps it's just as well that Riksbank minutes from the December meeting will be out 30 minutes before C2, and Norges Bank will closely watch how their neighbors arrived at the decision to cut rates despite high leverage ratios."

Looking at aggregate debt and service ratios to gross disposable income, Norwegians are actually in a more precarious leverage position. "Regardless of upcoming decisions, a strong currency may prove unavoidable, though just as acceptable as a tightening tool without pushing up interest rates and debt servicing burdens." Berry notes.

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