Europe Economics Update Will financial stability concerns prevent Norges Bank rate cuts? The Norges Bank has clearly become more concerned about threats to financial stability, but we do not think that this will prevent it from cutting the policy rate to zero by the end of the year. 30th March 2016 · 1 min read
Nordic & Swiss Economics Update Will financial stability concerns prevent Norges Bank rate cuts? The Norges Bank has clearly become more concerned about threats to financial stability, but we do not think that this will prevent it from cutting the policy rate to zero by the end of the year. 30th March 2016 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Feb.) February’s euro-zone monetary data suggest that December’s interest rate cut by the ECB had only a small effect. While the Bank has since increased its stimulus, we doubt that this will boost money... 29th March 2016 · 1 min read
Europe Economics Update Lack of labour market reform will restrict France’s recovery Although the French economy appeared to make a decent start to the year, surveys published this week supported our view that the recovery’s underlying momentum will remain very weak. And the... 24th March 2016 · 1 min read
Europe Economics Update Are ECB corporate bond purchases a game-changer? The prospect of ECB corporate bond purchases is already having a positive effect on firms’ financing costs. But we don’t think that this will be enough to generate a meaningful recovery in investment... 23rd March 2016 · 1 min read
Europe Economics Update Refugee crisis is another threat to Greek bailout Greece and its creditors have reached some compromises that might allow the first bailout review to be concluded next month and negotiations over debt relief to begin. But the growing financial and... 22nd March 2016 · 1 min read
Europe Economics Update What options does Sweden’s Riksbank have left? The growing unease over the potential impact of negative interest rates suggests that Sweden’s Riksbank will think twice about cutting the repo rate further below zero. It can draw on other policy... 17th March 2016 · 1 min read
Europe Economics Update SNB on hold, but battle against deflation is not won The lack of upward pressure on the franc following the last ECB meeting has allowed the Swiss National Bank (SNB) to leave policy on hold for now. But deflation dangers are particularly severe in... 17th March 2016 · 1 min read
Europe Economics Update Norges Bank cuts rates, but concerns about debt growing We think that today’s interest rate cut by the Norges Bank will be followed by another 25bp reduction in June. But concerns about household debt will prevent further loosening beyond that. 17th March 2016 · 1 min read
Nordic & Swiss Economics Update What options does Sweden’s Riksbank have left? The growing unease over the potential impact of negative interest rates suggests that Sweden’s Riksbank will think twice about cutting the repo rate further below zero. It can draw on other policy... 17th March 2016 · 1 min read
Nordic & Swiss Economics Update Norges Bank cuts rates, but concerns about debt growing We think that today’s interest rate cut by the Norges Bank will be followed by another 25bp reduction in June. But concerns about household debt will prevent further loosening beyond that. 17th March 2016 · 1 min read
Nordic & Swiss Economics Update SNB on hold, but battle against deflation is not won The lack of upward pressure on the franc following the last ECB meeting has allowed the Swiss National Bank (SNB) to leave policy on hold for now. But deflation dangers are particularly severe in... 17th March 2016 · 1 min read
Europe Economics Update Icelandic rates on hold but hikes are on the horizon Iceland’s central bank decided today to keep its key interest rates unchanged for the third meeting in a row, citing low global inflation and a strengthening currency. But with inflationary pressures... 16th March 2016 · 1 min read
Nordic & Swiss Economics Update Icelandic rates on hold but hikes are on the horizon Iceland’s central bank decided today to keep its key interest rates unchanged for the third meeting in a row, citing low global inflation and a strengthening currency. But with inflationary pressures... 16th March 2016 · 1 min read
Europe Economics Update Is the ECB about to launch the chopper? While the distribution of helicopter money in the euro-zone is not a likely near-term measure, the lesson of recent years is that seemingly unimaginable policies can become reality. And it may suit... 15th March 2016 · 1 min read
Europe Economics Update Will the new TLTROs boost bank lending? The latest changes to its lending operations mean that the ECB will now pay commercial banks to lend to the wider economy. But we still suspect that they will be unwilling to take the associated risks... 15th March 2016 · 1 min read
