The next chief economist is putting himself in camp with the pigeons, seeing no reason to raise interest rates until things go wrong.
Chief Economist Marius Gunsholt Hof has been promoted to Chief Economist at Handelsbanken.
Earlier this summer, it became apparent that current chief economist Carrie Deo Andersen is leaving Handelsbanken to serve as chief economist and head of analysis at Akershus Eiendom.
For me, this is a unique opportunity for a very exciting job. I attended school under former chief economists Knut Anton Mork and Carrie Deo Andersen, and now have the opportunity to continue this work. Hof says I’m looking forward to it.
Hof obtained his Master’s degree in Economics from the Norwegian School of Management (NHH) in 2008 with a major profile in economics and a supporting profile in financial economics. Previously, he worked at Norges Bank, where he performed macroeconomic analysis and forecasts for the Norwegian economy.
– Hook’s arguments are feeble
Hov is also a member of E24’s interest rate board, and often comments on macroeconomics in the media.
– What do you think is the funniest thing in finance?
– What has always interested me is understanding how everything relates to everything, and it is exciting to have good discussions about this both in client meetings and in daily collaborations with good colleagues. It’s also exciting for communications to change over time and for those new phenomena to emerge, Hov tells E24.
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Do you want to describe yourself as a hard-liner or a pigeon?
– I might be a little more in pigeon camp.
I often think that these hard-line arguments are a bit flimsy. They seem to start with the conclusion that the interest rate should always be higher than it is, and then the arguments come lame afterwards. I think as long as things don’t go wrong (with, say, obvious press trends in the economy or price formation in the housing market), I don’t think the interest rate is too low, says Hof.
What separates you from Dio Andersen?
We have a slightly different background. Granted, we both came from the Bank of Norway, but it worked more with the direct interest rate policy, while it worked more with the hard numbers for the Norwegian economy. We’ve taken “the division of labor” with us further at Handelsbanken. Now I should focus more of my time on interest rate analysis, but overall we’re pretty similar when it comes to fundamental views of the Norwegian economy, and we’re both in the little duo camp.
Crusher and translator number
– How is everyday life as an economist?
A lot happens in the morning. There are reports coming out and key numbers coming. These will be processed and interpreted, and then we comment on them internally to brokers and externally to clients and the media, so the day starts very abruptly and it is important to make good preparations in advance, says the new economist at Handelsbanken.
The rest of the day as chief economist usually goes to analytical work.
– We work all the time with small analysis projects and then we have the bigger reports that come in more often, but also require more work. In addition, one has to handle the data stream that comes in constantly. There’s a lot of data processing and number-crunching and work that lies to the bottom, but I think the important thing is to communicate the results and actually tell what it has to say, says Huff.
Do you have an economist you look up to?
– I will, of course, mention my predecessor, Knut Anton Mork and Carrie Deo Andersen. I have had very good cooperation with both. and Øystein Thøgersen, who was my supervisor at NHH. I would also like to thank Kåre Hagelund at Norges Bank. He was my teacher when I came as a freshman from NHH and I thought I knew a lot, but I soon understood how complicated reality is. Handelsbanken’s new chief economist says there are few in Norway who know more about how things relate to it.
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