Nordic & Swiss Economics Update Trump win could widen policy divergence next year We suspect that the Nordic and Swiss economies will see limited effects from Mr Trump’s victory. Butit makes monetary policy divergence between Switzerland and Sweden next year slightly more likely. 9th November 2016 · 1 min read
Nordic & Swiss Economics Update What will the US election mean for the Nordic and Swiss economies? The importance of international trade to the Nordics and Switzerland, as well as the franc’s role as a safe haven, mean that the outcome of the US election is potentially important to the region. This... 8th November 2016 · 1 min read
Nordic & Swiss Economics Update Sweden’s Riksbank takes centre stage The most noteworthy market developments last month were prompted by expectations of further policy loosening from Sweden’s Riksbank, with the krona depreciating sharply last month as a result... 3rd November 2016 · 1 min read
Nordic & Swiss Economics Update Little risk to growth from Iceland’s election The next Icelandic government may be an unconventional one, but improvements to Iceland’s public finances and external position since the crisis mean that there is little risk to economic growth. 31st October 2016 · 1 min read
Nordic & Swiss Economics Update Riksbank set to loosen further but tide will turn before long It seems very likely that the Riksbank will extend its bond purchase programme after it stepped up its dovish rhetoric and suggested that it might even cut the repo rate further. But given our... 27th October 2016 · 1 min read
Nordic & Swiss Economics Update Norges Bank leaves policy unchanged, but rate cuts to come The Norges Bank left its key policy rate on hold today and reiterated that no change was likely in the near future. But we think that more monetary loosening will be needed in 2017. 27th October 2016 · 1 min read
Nordic & Swiss Economics Update Cautious SNB won’t hike rates for some time yet Fears that domestic price pressures might prompt the Swiss National Bank to tighten monetary policy proved unfounded today as it left its interest rate target at 0.25%. The Bank’s tone was gloomier... 16th October 2016 · 1 min read
Nordic & Swiss Economics Update Icelandic interest rates to be left unchanged until mid-2017 The uncertainty surrounding capital account liberalisation suggests that the Central Bank of Iceland will keep interest rates unchanged for a while longer. But with inflationary pressures set to build... 5th October 2016 · 1 min read
Nordic & Swiss Economics Update Norges Bank to cut interest rates to zero next year The Norges Bank left its key policy rate on hold today and signalled that no change was likely in the remainder of the year. But we think that more monetary loosening will be needed in 2017. 22nd September 2016 · 1 min read
Nordic & Swiss Economics Update Riksbank minutes suggest no extension of asset purchases The minutes of the Riksbank’s latest meeting revealed that at least half of the Executive Board thought that there is little need for the Bank to extend asset purchases beyond December. Indeed... 21st September 2016 · 1 min read
Nordic & Swiss Economics Update SNB to remain in strongly accommodative mode Despite the improvement in financial market conditions, continued recovery of the Swiss economy and softening of the franc, the Swiss National Bank (SNB) re-emphasised today that it intends to... 19th September 2016 · 1 min read
Nordic & Swiss Economics Update SNB on hold, but set to renew currency interventions The Swiss National Bank’s decision to leave policy on hold came as no surprise as easing Brexit fears and the ECB’s inaction have led upward pressure on the franc to abate. But the SNB made clear that... 15th September 2016 · 1 min read
Nordic & Swiss Economics Update Real rates in Sweden set to fall to 40-year low With the Riksbank on hold, rising inflation means that real interest rates in Sweden are set to drop to a 40-year low. Such an accommodative stance seems unnecessary given the sound economic outlook... 7th September 2016 · 1 min read
Nordic & Swiss Economics Update How will the Norges Bank react to the strength of inflation? Inflation in Norway has been much stronger than the central bank forecast in June, so an interest rate cut in September looks unlikely. But we still expect inflation to fall sharply over the next 12... 10th August 2016 · 1 min read
Nordic & Swiss Economics Update Swedish fundamentals stronger than Q2 GDP data suggest Sweden’s weak Q2 GDP growth rate is at odds with both the monthly economic data and the positive tone of recent surveys. As such, we suspect a decent rebound is on the cards for Q3. 2nd August 2016 · 1 min read
Nordic & Swiss Economics Update Riksbank finds positives despite Brexit vote The Riksbank minutes confirm a readiness to act if conditions deteriorate in the wake of the UK’s Brexit vote. But there are signs of diminishing appetite for further measures from some members. 19th July 2016 · 1 min read
