Nordic & Swiss Central Bank Watch Norges Bank to use its monetary space Amid a raft of rate cuts by other G10 central banks, and the recent plunge in oil prices, we have pencilled in a 50bp rate cut at the Norges Bank’s meeting next Thursday. We expect policymakers to... 11th March 2020 · 5 mins read
ECB Watch ECB virus response likely to include a rate cut The ECB will need to respond to the Covid-19 virus, which has already prompted a 50bp rate cut by the Fed, but we think it will do so on its own terms. This is likely to include a 10bp deposit rate... 3rd March 2020 · 8 mins read
ECB Watch Christine Lagarde’s honeymoon continues At Christine Lagarde’s second meeting as ECB President next week, the Governing Council is sure to leave the main policy settings unchanged. The increase in inflation at the end of last year means... 16th January 2020 · 7 mins read
ECB Watch ECB to loosen policy before policy review is complete With little chance of any policy action at the ECB meeting next Thursday, the focus will be on how President Lagarde performs in the press conference and on the scope and timetable for the planned... 5th December 2019 · 8 mins read
Nordic & Swiss Central Bank Watch Further rate cuts in the pipeline We expect the Riksbank and the Norges Bank to leave interest rates on hold at their policy meetings this week. Elsewhere, we think that the Central Bank of Iceland will cut rates at its next meeting... 22nd October 2019 · 8 mins read
ECB Watch Divide and exit Mario Draghi’s last meeting as ECB president is unlikely to be the good-natured celebration of his achievements that he might have hoped for. Instead, attention will focus on the growing divisions on... 17th October 2019 · 7 mins read
ECB Watch Bank to cut deposit rate but wait before starting QE2 After policymakers spelt out in July that they were planning to announce more policy stimulus soon, there is sure to be some action when they meet in Frankfurt next Thursday. We think this will... 5th September 2019 · 8 mins read
Nordic & Swiss Central Bank Watch One more hike by the Norges Bank; SNB to cut further Investors have moved in line with our previously uber-dovish forecasts for the SNB and the Riksbank in recent months. Meanwhile, although further tightening is in the pipeline in Norway, investors are... 8th August 2019 · 8 mins read
ECB Watch ECB to take the first step towards renewed stimulus Policymakers have been dropping hints for weeks that they plan to loosen monetary policy soon, and at July’s meeting they are likely to take a step in that direction by formally changing their forward... 18th July 2019 · 8 mins read
ECB Watch Bank to lay the groundwork for further easing Policymakers are likely to make two significant changes at their meeting next Thursday. They will probably announce that they expect to leave rates at present levels until at least mid-2020, rather... 30th May 2019 · 1 min read
Nordic & Swiss Central Bank Watch Norges Bank going it alone, SNB and Riksbank on hold We expect policymakers in Norway, Switzerland, Iceland, and Sweden to all leave interest rates unchanged at their next policy meetings over the coming weeks and months. In the case of the Norges Bank... 8th May 2019 · 1 min read
ECB Watch Policymakers to pause in April After making some fairly big changes in early March, the ECB will probably be happy to leave things as they are at next week’s meeting. President Draghi will have no choice but to give a downbeat... 4th April 2019 · 1 min read
Nordic & Swiss Central Bank Watch Norges Bank to hike, but rates on hold elsewhere The Norges Bank is all but certain to increase interest rates to 1.0% at its policy meeting next week. In contrast, we expect policymakers in Switzerland and Iceland to leave rates unchanged at their... 14th March 2019 · 1 min read
ECB Watch ECB to cut macro forecasts, leave policy unchanged The ECB is likely to reduce its forecasts for economic growth at its meeting next week and to again stress that it has the necessary tools to respond if the recent slowdown worsens. But we think it... 28th February 2019 · 1 min read
ECB Watch More cautious, less confident At next week’s monetary policy meeting, the Governing Council of the ECB will have little option but to acknowledge that the downside risks to its forecasts have increased further since it last met in... 17th January 2019 · 1 min read
Nordic & Swiss Central Bank Watch Norges Bank to signal March rate hike At its meeting on 24th January, the Norges Bank is likely to reiterate that it expects to raise interest rates in March, taking the key policy rate to 1.0%. But we think that its tightening cycle will... 17th January 2019 · 1 min read
