Nordic & Swiss Data Response Switzerland CPI (Dec.) Headline inflation in Switzerland fell in December but the rise in the core rate will be a concern for SNB policymakers. We still think that the Bank will raise rates by just 25bp in March, compared... 4th January 2023 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Nov.) The increase in Sweden’s measure of core inflation to 8.0% was a touch below expectations but it still marks a new 31-year high. With CPIF inflation having risen to well above the Riksbank’s recent... 14th December 2022 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Nov.) The declines in headline and core inflation in November won’t stop the Norges Bank from raising interest rates by 25bp next week. But they support our view that the tightening cycle is very nearly... 9th December 2022 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Nov.) The low inflation rate in November supports our view that the Swiss National Bank will not need to raise interest rates much further in the current cycle. Indeed, there is a growing chance that... 1st December 2022 · 2 mins read
Nordic & Swiss Data Response Switzerland GDP (Q3) After increasing by 0.2% q/q in Q3, the Swiss economy is set to slow in Q4, although any recession will probably be shallower than we had previously expected, and shallower than in neighbouring... 29th November 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Oct.) Another bigger-than-expected increase in core inflation, to 7.9% in October, will keep the Riksbank focused on slowing demand when policymakers meet next week. We expect a further 75bp rate hike, to 2... 15th November 2022 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Oct.) October’s stronger-than-expected inflation data pose an upside risk to our forecast for the policy rate to peak at 3%. But with house prices falling, the Norges Bank faces a tricky balancing act. 10th November 2022 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Oct.) The decline in both core and headline inflation in October supports our view that Switzerland has passed peak inflation. We expect further falls in the coming months which will allow the SNB to raise... 3rd November 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Sep.) The large increase in inflation in September, to 10.8%, confirms that the Riksbank will press on with its rapid monetary policy tightening. For now we have assumed that rates will peak at 2.5% in... 13th October 2022 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Sep.) The Norges Bank signalled at its last meeting that it would slow the pace of rate hikes, but the strength of September’s inflation data – published this morning – makes another 50p hike more likely. 10th October 2022 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Sep.) & Manufacturing PMIs (Sep.) The fall in the headline rate of inflation in Switzerland in September suggests that price pressures may have peaked there, which is consistent with the message from the latest business surveys... 3rd October 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Aug.) The continued increase in inflation in August, with the core rate hitting its highest level since December 1991, will keep the Riksbank in hawkish mode. We had expected the Bank to raise its repo rate... 14th September 2022 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Aug.) The continued increase in core inflation in August took it further above the Norges Bank’s target. With policymakers in hawkish mood, we expect another 50bp rate hike at the next meeting in two weeks. 9th September 2022 · 2 mins read
Nordic & Swiss Data Response Switzerland CPI (Aug.) Swiss inflation came in a little higher than expected in August, at 3.5%, while the core rate was unchanged at 2.0%. Although these rates are enviably low by international standards, the SNB is likely... 1st September 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Jul.) The decline in CPIF inflation in July will be of limited comfort to policymakers given that the core rate, excluding energy, jumped to 6.6%. We still think the Riksbank may raise its repo rate by a... 12th August 2022 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Jul.) The increase in CPI-ATE to a record-high will have raised eyebrows at the Norges Bank. We think another 50 basis point hike at next week’s interim meeting is likely. 10th August 2022 · 2 mins read
