Europe Economics Update Slow start to jab rollout may come back to bite Europe While the vaccine rollout in Europe has finally kicked into gear, the legacy of the slow start means the EU is more exposed than the UK or the US if the Indian variant spreads quickly amongst the... 18th May 2021 · 2 mins read
Nordic & Swiss Economics Update Interest rate lift-off edging nearer in Norway As expected, the Norges Bank left its policy rate on hold at a record low of zero once again this morning but remains on track to be the first advanced central bank to start to raise interest rates... 6th May 2021 · 3 mins read
Nordic & Swiss Economics Update Economic optimism won’t translate into policy action The decision by the Riksbank to leave the repo rate and its other policy settings unchanged today will have come as a surprise to no one. While policymakers are increasingly optimistic about the near... 27th April 2021 · 3 mins read
Nordic & Swiss Economics Update Weaker franc to further ease US-Swiss relations The fact that the US Treasury refrained from calling Switzerland a currency manipulator in its latest report lowers the temperature in US-Swiss relations but doesn’t change the policy equation for the... 19th April 2021 · 4 mins read
Europe Economics Yet another blow to Europe’s vaccine rollout The delayed start to deliveries of the J&J vaccine is yet another blow to the rollout in continental Europe and on its own could delay things by at least one month compared to a situation in which the... 14th April 2021 · 3 mins read
Europe Economics Update Easing in Denmark is the exception, not the rule The comparative success that the Danish government has had in handling COVID has allowed it to start to re-open the economy, despite the painfully slow progress on the vaccine front. Most economies in... 6th April 2021 · 2 mins read
Nordic & Swiss Economics Update The good ship SNB set to maintain its course This morning’s decision by the Swiss National Bank to keep its policy settings unchanged came as no surprise. The prospect of further falls in the franc should allow the Bank to largely stay out of... 25th March 2021 · 3 mins read
Europe Economics ‘Export ban’ won’t solve the EU’s vaccine woes The EU’s tougher stance on vaccine exports might help to secure some concessions and additional doses from the UK. But it will do nothing to combat vaccine hesitancy in parts of the bloc and is... 24th March 2021 · 3 mins read
Nordic & Swiss Economics Update Norges Bank gearing up to hike As we expected, the Norges Bank laid the groundwork this morning for the start of a tightening cycle, later this year. But we think it will raise interest rates sooner and faster than it currently... 18th March 2021 · 3 mins read
Europe Economics Europe falling further behind on the virus front A new wave of coronavirus cases in Europe, and the pause in usage of the AstraZeneca vaccine, raises the risk that the EU will fall even further behind the UK and US in its recovery from the pandemic. 17th March 2021 · 4 mins read
Nordic & Swiss Economics Update Making sense of the DNB’s “technical adjustments” The recent technical adjustments to the Danish Nationalbank’s monetary toolkit simplify the policy framework and are not intended to alter the policy stance. But with the Danish krone at its strongest... 12th March 2021 · 3 mins read
Europe Economics Counting the cost of the EU’s slow vaccine rollout The underwhelming vaccine rollout in Europe will probably delay the easing of restrictions and means that the best of the vaccine bounce will be pushed into Q3. That said, the planned EU-wide vaccine... 2nd March 2021 · 3 mins read
Nordic & Swiss Economics Update What to make of the weaker Swiss franc? The recent fall in the Swiss franc against the euro will be music to the SNB’s ears, and we think that there is plenty of scope for the currency to drift lower over the coming years. 24th February 2021 · 3 mins read
Europe Economics Update Norges Bank to start raising rates later this year We forecast the Norges Bank to be the first advanced central bank to begin raising interest rates, in the second half of this year. This will further bolster the krone, which we expect to be the best... 17th February 2021 · 3 mins read
Nordic & Swiss Economics Update Asset purchases set to divide opinions at the Riksbank This morning’s announcement that the Riksbank left its policy settings unchanged will have come as a surprise to no one. Policymakers are in no rush to raise the repo rate from zero, but there are... 10th February 2021 · 3 mins read
Nordic & Swiss Economics Update Tighter Policy in Norway still a long way off As expected, the Norges Bank left its policy rate on hold at a record low of zero once again this morning and reiterated that it “will most likely remain at today’s level for some time ahead”. This... 21st January 2021 · 3 mins read
