Nordic & Swiss Central Bank Watch Stage set for hawkish tweaks to Riksbank’s exit strategy The momentum in the Swedish economy, and jump in inflation in August, gives the Riksbank plenty to ponder at next week’s policy meeting. While repo rate hikes are not on policymakers’ agenda, the... 14th September 2021 · 5 mins read
ECB Watch Slower purchase pace in sight, but rate hikes are not The ECB is likely to use next week’s meeting to prepare the ground for a very gradual reduction in asset purchases under the emergency PEPP. But, taking a leaf out of the Fed’s book, it will stress... 2nd September 2021 · 7 mins read
Nordic & Swiss Economics Norges Bank treading water before taking the plunge The Norges Bank is set to leave interest rates on hold at zero next Thursday (19 th August), but it will almost certainly start to raise them, and tighten macroprudential policy further, in September. 12th August 2021 · 5 mins read
Europe Economics New guidance will set the bar higher for rate hikes The ECB will set out next week what its new strategy implies for its monetary policy. Having nudged up the target to a symmetrical 2% and stressed that it will tolerate some overshooting, the... 15th July 2021 · 8 mins read
Nordic & Swiss Central Bank Watch Riksbank to start to shrink its balance sheet next year After last week’s hawkish shift by the Fed, and the erasure of any doubt about the start of hikes by the Norges Bank, the Riksbank may also pencil a rate hike into its projections next Thursday (1st... 24th June 2021 · 5 mins read
Nordic & Swiss Central Bank Watch Two banks, heading in different directions We expect both the Swiss National Bank and Norges Bank to leave interest rates on hold next Thursday. But while rate hikes by the SNB are many years away, a tightening cycle in Norway is edging closer... 11th June 2021 · 6 mins read
ECB Watch Preparing the ground for a super-dovish taper We think the ECB will tweak its monetary policy statement next week by pledging to maintain favourable financing conditions but not renewing its pledge to keep PEPP purchases at the recent... 3rd June 2021 · 8 mins read
Nordic & Swiss Central Bank Watch Countdown to lift-off continues The Norges Bank is set to leave rates on hold at zero next Thursday, but the countdown to lift-off is ticking and tighter macroprudential policy to counter momentum in the housing market looms. 29th April 2021 · 5 mins read
Nordic & Swiss Central Bank Watch Riksbank happy to bide its time next week The Riksbank is all but certain to leave its repo rate on hold next Tuesday (27th April), and will stick to the plan to spend the entire SEK 700 billion asset purchase envelope by the end of the year... 20th April 2021 · 5 mins read
ECB Watch ECB to stick to current PEPP purchase pace After promising a “significant” increase in bond purchases in March, the ECB Governing Council will not make any policy changes at next week’s meeting. Officials may try again to explain how they... 15th April 2021 · 7 mins read
Nordic & Swiss Central Bank Watch Weaker franc doesn’t change the picture for the SNB The Swiss National Bank will have cheered on the recent fall in the franc against the euro. However, policymakers are unlikely to offer up any surprises at the policy announcement next Thursday. 18th March 2021 · 4 mins read
Nordic & Swiss Central Bank Watch Preparing for lift-off The Norges Bank will probably leave its key interest rate on hold at zero next Thursday, but we expect it to adopt a much more hawkish tone than it has up to now. It might also announce a re... 11th March 2021 · 5 mins read
ECB Watch Hesitant ECB will probably step up bond purchases At next Thursday’s monetary policy meeting we expect the ECB to nudge up its forecast for inflation in 2021 and nudge down its forecast for GDP growth, but stress that inflation is still likely to... 4th March 2021 · 7 mins read
Nordic & Swiss Central Bank Watch Riksbank to keep its powder dry for now The Riksbank is highly likely to leave its repo rate and other policy settings on hold next Wednesday (10th February), but we expect it to beef up its asset purchase programme again before long. 3rd February 2021 · 5 mins read
ECB Watch ECB to leave policy settings unchanged Having adjusted their policy settings in December, policymakers will be happy to sit out the meeting next week and repeat the mantra that they will do whatever is required to support the euro-zone... 14th January 2021 · 7 mins read
Nordic & Swiss Central Bank Watch Norges Bank eyeing tighter macroprudential policy The Norges Bank will almost certainly leave its key interest rate on hold at zero next Thursday, but there is an outside chance that it could start to re-tighten macroprudential policy to tame the... 14th January 2021 · 5 mins read
