Europe Economics Update Brexit would push Swiss franc higher despite SNB’s efforts While the Swiss National Bank (SNB) has vowed to limit any impact on the franc if the UK votes to leave the EU tomorrow, we doubt that it has enough ammunition to prevent an appreciation. We think... 22nd June 2016 · 1 min read
Nordic & Swiss Economics Update Would Brexit break Denmark’s currency peg? The Danish krone would probably face significant upward pressure in the event of a Brexit. But as the Danmarks Nationalbank has scope to loosen policy further, a Brexit is unlikely to break its euro... 22nd June 2016 · 1 min read
Nordic & Swiss Economics Update Brexit would push Swiss franc higher despite SNB’s efforts While the Swiss National Bank (SNB) has vowed to limit any impact on the franc if the UK votes to leave the EU tomorrow, we doubt that it has enough ammunition to prevent an appreciation. We think... 22nd June 2016 · 1 min read
Europe Economics Update Would a Brexit trigger the ECB’s OMTs? Today’s ruling by the German constitutional court leaves the ECB free to implement its long-awaited OMT programme, if deemed necessary. And a possible trigger for OMTs – Brexit – might be just a few... 21st June 2016 · 1 min read
Europe Economics Update Will Finland’s competitiveness pact boost the recovery? Finland’s competitiveness pact probably won’t boost employment by as much as the Government hopes. But it is still a positive move that should help to lower labour costs and boost output. 17th June 2016 · 1 min read
Nordic & Swiss Economics Update Will Finland’s competitiveness pact boost the recovery? Finland’s competitiveness pact probably won’t boost employment by as much as the Government hopes. But it is still a positive move that should help to lower labour costs and boost output. 17th June 2016 · 1 min read
Europe Economics Update SNB holds back ammunition for possible Brexit The Swiss National Bank (SNB) left interest rates on hold as expected today, but it will continue to intervene in FX markets if needed, as is likely in the run-up to the UK referendum. An actual... 16th June 2016 · 1 min read
Nordic & Swiss Economics Update SNB holds back ammunition for possible Brexit The Swiss National Bank (SNB) left interest rates on hold as expected today, but it will continue to intervene in FX markets if needed, as is likely in the run-up to the UK referendum. An actual... 16th June 2016 · 1 min read
Europe Economics Update How would Brexit affect Sweden? The UK is Sweden’s fourth largest export market, but the direct trade impact of a Brexit would probably be small. A Brexit could have a bigger impact on Sweden through its effect on the krona . And... 15th June 2016 · 1 min read
Nordic & Swiss Economics Update How would Brexit affect Sweden? The UK is Sweden’s fourth largest export market, but the direct trade impact of a Brexit would probably be small. A Brexit could have a bigger impact on Sweden through its effect on the krona. And... 15th June 2016 · 1 min read
Europe Economics Update What would Brexit mean for Ireland? Ireland is the most exposed euro-zone country to any economic fallout from a Brexit . But just as we think that the economic costs of a Brexit for the UK are often overstated, we think that the Irish... 14th June 2016 · 1 min read
Europe Economics Update Are ECB corporate bond purchases already a success? The prospect of ECB corporate bond purchases, which begin today, has pushed corporate bond spreads down and prompted a pick-up in issuance. However, there are several reasons to think that spreads... 8th June 2016 · 1 min read
Europe Economics Update Should European markets be more worried about Brexit? Iceland’s second consecutive quarterly fall in GDP was down to the volatility of trade. The big picture is that domestic demand growth picked up and the outlook is positive. 7th June 2016 · 1 min read
Europe Economics Update Rise in oil prices not all positive for Norway The recent rise in oil prices will provide some short-term support to the Norwegian economy, but the associated strengthening of the krone will hinder the economy’s rebalancing away from oil. We... 6th June 2016 · 1 min read
Nordic & Swiss Economics Update Rise in oil prices not all positive for Norway The recent rise in oil prices will provide some short-term support to the Norwegian economy, but the associated strengthening of the krone will hinder the economy’s rebalancing away from oil. We... 6th June 2016 · 1 min read
Europe Economics Update Target2 imbalances highlight uneven effects of QE The recent increase in Target2 imbalances does not suggest that the euro-zone is set for another crisis on the scale of 2011/12. However, it does suggest that countries in the core might be... 3rd June 2016 · 1 min read
