Nordic & Swiss Economics Weekly Riksbank’s resolve to be tested next year The recent downward revisions to Sweden’s unemployment rate will no doubt be interpreted by the Riksbank as justification for its plan to raise the repo rate out of negative territory in December. But... 15th November 2019 · 4 mins read
Nordic & Swiss Economics Weekly Breman unlikely to rock the boat at the Riksbank The forthcoming addition of Anna Bremen to the Riksbank’s Executive Board is unlikely to significantly affect the balance among the Bank’s policymakers. While we think that they will follow through on... 8th November 2019 · 6 mins read
Nordic & Swiss Economics Weekly SNB to loosen policy again next year The return of deflation to Switzerland in October lends support to our dovish view that the SNB will loosen policy further next year. Next week, we expect the release of the services PMI from Sweden... 1st November 2019 · 4 mins read
Nordic & Swiss Economics Weekly Riksbank to hike back to zero; Finland losing steam While the Riksbank appears dead-set on raising its repo rate back to zero in December, we suspect that it will only be a matter of time before it will have to loosen policy again. Meanwhile, we expect... 25th October 2019 · 6 mins read
Nordic & Swiss Economics Weekly Dodgy data; Switzerland goes to the polls Despite “quality flaws” in Sweden’s unemployment data, the body of economic evidence still suggests that the economy is very weak. Meanwhile, the Green Party looks set to take make sizeable gains in... 18th October 2019 · 4 mins read
Nordic & Swiss Economics Weekly SEK and NOK to fall further over the next six months Despite the healthy-looking activity data from Sweden for August, we are still bracing ourselves for a grim Q3 GDP figure and think that the risks to the krona are rooted to the downside. Meanwhile... 11th October 2019 · 4 mins read
Nordic & Swiss Economics Weekly Things go from bad to worse in Sweden The sharp falls in the Swedish PMIs in September indicate that the economy contracted in Q3, while the slump in Swiss inflation in September will only strengthen the resolve of the SNB to resist... 4th October 2019 · 5 mins read
Nordic & Swiss Economics Weekly Sweden stuck in first gear; Swiss franc on the up The latest survey data from Sweden provide further proof that the economy is too weak for the Riksbank to be able to raise interest rates within the next six months, as it forecasts. Meanwhile, we... 27th September 2019 · 6 mins read
Nordic & Swiss Economics Weekly Division at the Riksbank; SNB tweaks tiering system The tweaks to the SNB’s tiering system, which will make it more generous for domestic banks, give policymakers cover to cut interest rates further as and when needed. Meanwhile, we think the 25bp rate... 20th September 2019 · 4 mins read
Nordic & Swiss Economics Weekly SNB and Norges Bank to leave rates on hold We expect the SNB and the Norges Bank to leave their key interest rates on hold at their policy meetings next Thursday morning. Meanwhile, renewed downward pressure on the Danish krone has already... 13th September 2019 · 4 mins read
Nordic & Swiss Economics Weekly Riksbank sticks to its guns, for now Next week, we expect Swedish and Norwegian CPI data to show that core inflation edged up in both cases in August, and revised Q2 Swedish GDP data to show that the economy contracted even faster than... 6th September 2019 · 6 mins read
Nordic & Swiss Economics Weekly Riksbank to (finally) turn more dovish next week While the Riksbank is likely to leave its repo rate on hold at -0.25% at its policy meeting on Thursday next week, we expect it to adopt a more dovish stance and to slash its forecasts for the economy... 30th August 2019 · 6 mins read
Nordic & Swiss Economics Weekly NOK to reach record low; DKK “trumps” central target After recently changing our Norges Bank forecast, we now expect the NOK/EUR to fall to a record-low of 10.50 by end-2019. Meanwhile, next week we expect a raft of Q2 GDP data to show that while growth... 23rd August 2019 · 6 mins read
Nordic & Swiss Economics Weekly Swiss bonds soar; Norges Bank hawkish no more Safe-haven demand has seen Swiss bond yields plumb new depths and has continued to boost the franc. We think that it is only a matter of time before the SNB cuts interest rates further into negative... 16th August 2019 · 4 mins read
Nordic & Swiss Economics Weekly More bad Swedish data; Norges Bank to hold rates The Norges Bank is likely to leave its key policy rate unchanged next Thursday but we expect it to leave the door open for a rate hike in September. More generally, though, the case for the Bank... 9th August 2019 · 5 mins read
Nordic & Swiss Economics Weekly SEK to stay the G10 laggard; CHF causing headaches With the Swedish economy likely to flirt with recession in Q3, a dovish shift by the Riksbank is well overdue. So, having been the worst performing G10 currency against the euro this year to date, the... 2nd August 2019 · 5 mins read
