Nordic & Swiss Data Response

Swedish Consumer Prices (Mar.)

Although headline inflation increased to the Riksbank’s target in March, inflation excluding energy remained somewhat weaker. At its April meeting, we expect the Bank to signal that it will raise...

12th April 2018 · 1 min read

Nordic & Swiss Data Response

Norwegian & Danish Consumer Prices (Mar.)

March’s weak inflation data in Norway strengthen the case for the Norges Bank to move only very slowly towards tightening monetary policy. We suspect that it will wait until 2019 to raise interest...

10th April 2018 · 1 min read

Nordic & Swiss Data Response

Swedish Private Production (Feb.)

Despite February’s rise, Swedish private sector production growth appears to have slowed in Q1. But economic growth should remain healthy this year and inflationary pressures are building, so we still...

5th April 2018 · 1 min read

Nordic & Swiss Data Response

Swiss Consumer Prices (Mar.)

The renewed rise in Swiss inflation in March will be welcomed by the Swiss National Bank. But with pipeline price pressures still very subdued, we doubt that the SNB will alter its ultra-accommodative...

5th April 2018 · 1 min read

Nordic & Swiss Data Response

Swiss KOF (Mar.)

Despite falling in March, the Swiss KOF Economic Barometer is consistent with annual GDP growth remaining fairly healthy. But with inflation subdued, we expect the SNB to keep interest rates on hold...

29th March 2018 · 1 min read

Nordic & Swiss Data Response

Sweden Econ. Tend. Survey (Mar.), Trade & PPI (Feb.)

The Swedish economy has lost some momentum of late, but growth still looks set to be healthy. And with inflationary pressures gradually rising, we expect the Riksbank to raise interest rates this year...

27th March 2018 · 1 min read

Nordic & Swiss Data Response

Swedish Consumer Prices (Feb.)

With Swedish inflation unchanged at a joint 10-month low in February, we see the Riksbank changing its forward guidance next month to signal that it will raise interest rates later than it previously...

14th March 2018 · 1 min read

Nordic & Swiss Data Response

Norway CPI (Feb) & Iceland GDP (Q4)

Inflation in Norway rose quite sharply in February, but we do not think that it is about to surge. Meanwhile, Icelandic GDP growth would have been negative in Q4 was it not for a one-off intellectual...

9th March 2018 · 1 min read

Nordic & Swiss Data Response

Swiss CPI (Feb.) & Swedish Production (Jan.)

The further decline in Swiss inflation in February to a five-month low will add to the Swiss National Bank’s caution ahead of its monetary policy meeting next week. Indeed, subdued inflation is likely...

6th March 2018 · 1 min read

Nordic & Swiss Data Response

Swiss GDP (Q4) & Retail Sales (Jan.)

The Swiss economy ended 2017 on a fairly strong note and the surveys paint a positive picture for 2018. But with inflation set to remain subdued, we think that the SNB will wait until 2020 to raise...

1st March 2018 · 1 min read

Nordic & Swiss Data Response

Manufacturing PMIs (Feb.)

February’s Swiss, Swedish and Norwegian manufacturing PMIs point to continued strong growth. But this only seems to be causing underlying inflationary pressure to build in Sweden.

1st March 2018 · 1 min read

Nordic & Swiss Data Response

Sweden, Finland & Denmark GDP (Q4)

Sweden, Finland and Denmark all grew strongly in Q4 last year. While growth in Sweden and Finland is likely to outpace that in Demark in 2018, the big picture is that the outlook for each economy is...

28th February 2018 · 1 min read

Nordic & Swiss Data Response

Sweden Econ. Tendency Survey (Feb.) & Trade (Jan.)

The recent softening of the Economic Tendency Survey suggests that the Swedish economy lost some momentum at the start of 2018. But the survey still implies that growth will remain strong.

27th February 2018 · 1 min read

Nordic & Swiss Data Response

Swedish Consumer Prices (Jan.)

January’s drop in Swedish inflation was entirely due to changes in the weights used to calculate the price index. While inflation looks set to be lower in 2018 than we previously anticipated, the...

20th February 2018 · 1 min read

Nordic & Swiss Data Response

Swiss and Danish Consumer Prices (Jan.)

Following January’s decline, there is little chance that Swiss inflation will rise much in the next few months. And later in the year, inflation is likely to drop back as exchange rate effects unwind.

12th February 2018 · 1 min read