Nordic & Swiss Economics Update Mixed performances for Nordic and Swiss currencies After fairly big rises in yields in June, July was a quieter month for Nordic & Swiss government bonds. There was more action in the currency market, with the Norwegian krone and Swedish krona rising... 27th July 2017 · 1 min read
Nordic & Swiss Economics Update How will the Riksbank react to the strengthening krona? The krona’s recent rise means that exchange rate effects will detract from Swedish inflation in 2018. But with domestic inflation set to rise further above 2%, this should not prevent the Riksbank... 17th July 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank drops easing bias from forward guidance By indicating that it no longer expects to cut interest rates, the Riksbank has taken a small step toward monetary policy normalisation. While the Bank indicated that it will continue to guard against... 4th July 2017 · 1 min read
Nordic & Swiss Economics Update Will Nordic and Swiss bond yields keep rising? Government bond yields in the Nordic and Swiss economies have risen recently, and for the most part we expect this to continue. Yields in Sweden are likely to rise the furthest, while those in... 3rd July 2017 · 1 min read
Nordic & Swiss Economics Update Bond yields rise on prospect of tighter global monetary policy Bond yields across the Nordic and Swiss economies increased in June, in line with global market moves following major central bank speeches that prompted investors to bring forward their expectations... 30th June 2017 · 1 min read
Nordic & Swiss Economics Update Is below-target inflation in Norway a problem? The Norges Bank’s latest projections suggest that it is unwilling, or unable, to loosen policy by enough to hit its inflation target. This will weigh on economic growth over the coming years, and... 28th June 2017 · 1 min read
Nordic & Swiss Economics Update Norway rate cut off the table, but a long way from rate hikes The Norges Bank revised up its forecast for interest rates this year, so a cut now looks unlikely. But while the Bank expects to raise its policy rate in 2019, we think that it will be unchanged until... 22nd June 2017 · 1 min read
Nordic & Swiss Economics Update Cautious SNB keeps policy unchanged The Swiss National Bank’s decision to leave interest rates on hold and pledge continued currency intervention if needed reflected the fact that inflation is still very low. With price pressures likely... 15th June 2017 · 1 min read
Nordic & Swiss Economics Update Scope for further interest rate cuts in Iceland There is little sign that the Central Bank of Iceland (CBI) expects to reduce interest rates further after today’s cut, but we think there is scope for a further appreciation of the króna to weigh on... 14th June 2017 · 1 min read
Nordic & Swiss Economics Update Should we worry about a new government in Finland? The collapse of Finland’s government will not throw the country’s economic reforms off track. We still expect the economy to grow by about 2% this year. And while the renewed political instability in... 13th June 2017 · 1 min read
Nordic & Swiss Economics Update The outlook for Nordic and Swiss equities Nordic and Swiss equities have generally performed very well this year, but prospects differ significantly between countries. We expect Norwegian equities to outperform over the next 18 months as oil... 7th June 2017 · 1 min read
Nordic & Swiss Economics Update What’s behind the turnaround in Finland? The recent pick-up in growth in Finland has been broad-based, and Government reforms have improved the medium-term outlook. We expect GDP growth to beat the consensus forecast this year. 1st June 2017 · 1 min read
Nordic & Swiss Economics Update Currencies rise against dollar while bond yields decline The Nordic and Swiss currencies all appreciated against the US dollar in May, but performances against the euro were mixed. Following global trends, government bond yields generally declined. While... 31st May 2017 · 1 min read
Nordic & Swiss Economics Update Buoyant euro-zone will help the SNB fight franc strength Given the improvement in the euro-zone’s political and economic outlook and the relative stance of monetary policy, we no longer expect the Swiss franc to appreciate against the euro. But the franc... 25th May 2017 · 1 min read
Nordic & Swiss Economics Update Central Bank of Iceland not done with rate cuts yet Today’s decision by the Central Bank of Iceland to cut interest rates is likely to be followed by another cut later this year. Granted, strong economic growth will put pressure on domestic inflation... 17th May 2017 · 1 min read
Nordic & Swiss Economics Update Change in Riksbank target unlikely to shift policy yet The Riksbank has stated that its new inflation tolerance band will have no effect on policy. But with some Board members growing increasingly concerned about the effects of ultra-loose monetary policy... 16th May 2017 · 1 min read
