Nordic & Swiss Economics Update New government will struggle to revive Finland’s economy The opposition Centre Party looks likely to be the largest party in a coalition government after Finland’s general election on 19th April. But the outcome of the election is unlikely to have a major... 13th April 2015 · 1 min read
Europe Economics Update Is loose monetary policy inflating bubbles in Germany? With the ECB’s quantitative easing programme putting upward pressure on German asset prices in particular, some point to a risk of bubbles developing there. We think the greater risk is that such... 13th April 2015 · 1 min read
Europe Economics Update New government will struggle to revive Finland’s economy The opposition Centre Party looks likely to be the largest party in a coalition government after Finland’s general election on 19th April. But the outcome of the election is unlikely to have a major... 13th April 2015 · 1 min read
Europe Economics Update Is deflation good for the euro-zone after all? The recent bout of negative inflation in the euro-zone appears to have contributed to a modest upturn in economic growth. But it would be premature to conclude that deflation will prove to be a good... 9th April 2015 · 1 min read
Europe Economics Update ECB March minutes will dampen talk of early QE taper The minutes of the ECB’s monetary policy meeting on 4th and 5th March should help to dampen suggestions that the recent signs of improvement in the euro-zone economy will prompt the ECB to end its... 3rd April 2015 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Mar.) Recently published data show that Spain, Portugal and France made headway in reducing their general government deficits in 2014. But progress among the peripheral countries at the start of 2015 has... 2nd April 2015 · 1 min read
Europe Economics Update Time is quickly running out for Greece Greece is running out of time to produce a list of reforms that will satisfy its creditors and secure the additional bail-out payment it requires to meet its near-term financial obligations. But even... 31st March 2015 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Feb.) February’s euro-zone monetary data add to the evidence from activity surveys that economic growth in the euro-zone will pick up in the coming months. But troubles in the Greek banking sector remain a... 26th March 2015 · 1 min read
Europe Economics Update Can the euro-zone converge with the US? While lower inflation and the drop in the euro might boost growth in the euro-zone relative to that in the US, structural constraints, respective policy conditions and the effects of the Greek crisis... 24th March 2015 · 1 min read
Europe Economics Update Portugal’s good news should be treated with caution A continued economic recovery and the Government’s early repayment of IMF loans have allowed Portugal to distance itself further from beleaguered Greece. But with debt still worryingly high and the... 23rd March 2015 · 1 min read
Europe Economics Update Norway’s central bank holds rates, but cuts still lie ahead The Norges Bank unexpectedly left its policy rate on hold at 1.25% today but with the economic situation set to deteriorate, we think that the Norges Bank will be forced to cut rates at its next... 19th March 2015 · 1 min read
Europe Economics Update SNB will have to act against the franc before long The Swiss National Bank’s decision to leave its deposit rate at -0.75% presumably reflects the slight softening of the franc over recent weeks. But we expect renewed upward pressure on the currency to... 19th March 2015 · 1 min read
Nordic & Swiss Economics Update SNB will have to act against the franc before long The Swiss National Bank’s decision to leave its deposit rate at -0.75% presumably reflects the slight softening of the franc over recent weeks. But we expect renewed upward pressure on the currency to... 19th March 2015 · 1 min read
Europe Economics Update Greece’s output gap won’t solve its debt problems The vast amount of spare capacity in the Greek economy means that the underlying state of the public finances is rather better than the headline numbers suggest. But it would be wrong to conclude that... 18th March 2015 · 1 min read
Europe Economics Update Krona’s rise forces Sweden’s Riksbank to ease policy again The Swedish Riksbank unexpectedly loosened monetary policy further today, citing the deflationary risks from the stronger krona, and said it was prepared to do more if needed. With the ECB’s QE likely... 18th March 2015 · 1 min read
Europe Economics Update Iceland’s Sedlabanki holds rates but will hike later this year Iceland’s central bank left its main interest rates on hold today as it waits to judge the outcome of the ongoing wage negotiations. But with labour market tensions growing and the Sedlabanki raising... 18th March 2015 · 1 min read
