Nordic & Swiss Data Response Norwegian & Danish Consumer Prices (Mar.) The pick-up in core inflation pressures in Norway in March suggests that the Norges Bank will stay in tightening mode for now. However, given our forecast for oil prices to fall this year, we think... 10th April 2019 · 1 min read
Nordic & Swiss Data Response Sweden Private Sector Production (Feb.) The weak private sector production data from Sweden for February suggests that the economy is likely to have flat-lined at best in Q1. With core price pressures expected to remain subdued, we continue... 8th April 2019 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Mar.) The slight pick-up in Swiss inflation in March does not change our view that the headline rate will fall back into negative territory in mid-2019 and that core price pressures will remain extremely... 2nd April 2019 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Mar.) The manufacturing PMIs for March provide further evidence that the Swiss and Swedish economies made a weak start to 2019. This underlines our view that policymakers there will be in no rush to tighten... 1st April 2019 · 1 min read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Mar.) The sharp pick-up in the Swiss KOF Economic Barometer in March does not change our view that GDP growth in Switzerland will slow this year. However, it supports our forecast that the economy will hold... 29th March 2019 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Indicator (Mar.) The decline in the Swedish Economic Tendency Indicator (ETI) in March was not as bad as we had feared given the sharp fall in the euro-zone manufacturing PMI last week. But it is still consistent with... 27th March 2019 · 1 min read
Nordic & Swiss Data Response Switzerland and Norway Policy Decisions (Mar.) Today’s decision by the Norges Bank, to raise its policy rate from 0.75% to 1.00%, came as no surprise, but policymakers struck a more hawkish tone than expected. While the Bank is now likely to... 21st March 2019 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Feb.) The fall in Swedish inflation in February lends further support to our view that the Riksbank will keep interest rates on hold at least into 2021. In fact, with core price pressures subdued, and a... 12th March 2019 · 1 min read
Nordic & Swiss Data Response Norwegian & Danish CPI (Feb.) The stronger-than-expected rise in core Norwegian inflation in February makes it all but certain that the Norges Bank will increase interest rates at its policy meeting later this month. However... 11th March 2019 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Feb.19) & Sweden Priv. Sec. Prod. (Jan.19) The continued lack of price pressures in Switzerland will reaffirm the SNB’s dovish stance. Meanwhile, private sector activity data from Sweden for January suggest that the economy made a weak start... 5th March 2019 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Feb.) The slight pick-up in the Swiss and Swedish manufacturing PMIs in February provides some comfort that the recent downward pressure on their industrial sectors has not intensified. However, weakness in... 1st March 2019 · 1 min read
Nordic & Swiss Data Response Switzerland, Sweden, Denmark, Finland GDP (Q4) Q4 GDP data released this morning show that large parts of the region ended 2018 on a high note. However, more timely indicators suggest that activity has lost momentum into 2019. Against a backdrop... 28th February 2019 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jan.) The weaker-than-expected outturn for Swedish inflation in January underlines our view that the Riksbank will be in no rush to raise interest rates again. Indeed, with core inflation remaining... 19th February 2019 · 1 min read
Nordic & Swiss Data Response Switzerland & Norway Consumer Prices (Jan.) We think that inflation in Switzerland will fall below zero by the middle of the year, so the SNB is likely to stick to its very dovish policy stance. By contrast, we think that inflation in Norway... 11th February 2019 · 1 min read
Nordic & Swiss Data Response Norway’s GDP (Q4) Norway’s economy ended 2018 on a high note, but we doubt that this will last. We suspect that lower oil prices and weaker activity elsewhere in Europe will weigh on growth, prompting the Norges Bank... 8th February 2019 · 1 min read
Nordic & Swiss Data Response Swiss KOF & Swedish Econ. Tendency Indicator (Jan.) January’s surveys suggest that growth has slowed sharply in both Switzerland and Sweden. The SNB will see this as supporting its ultra-accommodative policy. But for the Riksbank it creates downside... 30th January 2019 · 1 min read
