Nordic & Swiss Central Bank Watch

Riksbank to keep policy settings on hold next week

After a tweak-laden last policy meeting, the Riksbank is likely to maintain the status quo next Tuesday (22nd September). While there is no burning platform for policy change, we think that the next...

15th September 2020 · 5 mins read

Nordic & Swiss Chart Pack

Norway’s fading rebound a warning sign for others

Given Norway’s decision to re-open its economy comparatively early, its post-lockdown experience has been watched closely for clues as to how other economies could expect to fare. The latest monthly...

11th September 2020 · 5 mins read

Nordic & Swiss Economics Weekly

Norges Bank unlikely to tighten anytime soon

While core inflation in Norway rose even further above the Norges Bank’s target in August, things will soon look very different as the inflationary impact of previous falls in the krone fades and goes...

11th September 2020 · 4 mins read

Nordic & Swiss Economics Weekly

Riksbank shrugs off krona surge

The Swedish krona has risen the most of any G10 currency against the US dollar this year, but its trade-weighted index is not particularly strong, so policymakers don’t seem to be losing much sleep...

4th September 2020 · 6 mins read

Nordic & Swiss Data Response

Switzerland CPI (Aug.)

The current bout of deflation in Switzerland is likely to persist well into next year, and will continue to be a headache for the SNB, particularly given the recent rise in the franc against the US...

3rd September 2020 · 2 mins read

Nordic & Swiss Data Response

Manufacturing PMIs (Aug.)

The positive set of August manufacturing PMIs from Switzerland and the Nordics suggests that the recovery in industrial activity continued over the summer. While the fortunes of industry depend in...

1st September 2020 · 2 mins read

Nordic & Swiss Economics Weekly

KOF hits decade-high; retail sugar-rush starting to fade

The Swiss economy contracted by more than those in the Nordics in the first half of the year but appears to have rebounded strongly in the third quarter. Rising virus cases in the country are...

28th August 2020 · 5 mins read

Nordic & Swiss Data Response

Switzerland GDP (Q2)

Data released this morning show that the Swiss economy weathered the crisis comparatively well in the first half of the year. While its fortunes are closely tied to those in the euro-zone, signs that...

27th August 2020 · 3 mins read

Non-Euro Europe Commercial Property Chart Pack

Scandinavia & Switzerland: Retail not off the hook yet

Q2 data was a mixed bag as all markets recorded shifts in yields while only a handful of markets saw moves in rents. That said, Scandinavian investment activity took a significant hit in Q2, and...

24th August 2020 · 6 mins read

Nordic & Swiss Chart Pack

Recovery on track after comparatively shallow slump

Compared to many of the larger euro-zone countries, the coronavirus remains relatively well under control in the Nordic countries and Switzerland. With the exception of Denmark, there are at this...

13th August 2020 · 5 mins read

Nordic & Swiss Economics Weekly

Swedish experience dashes hopes of rapid recoveries

The fact that the contraction in Swedish GDP in Q2 was smaller than elsewhere in Europe understandably took the headlines this week. However, Sweden’s experience still demonstrates the extent to which...

7th August 2020 · 6 mins read

Nordic & Swiss Data Response

Switzerland CPI (July), Manufacturing PMIs (July)

Inflation in Switzerland now appears to have troughed, but it is set to remain frustratingly weak over the coming years and a headache for the SNB. Meanwhile, the manufacturing PMIs from July suggest...

3rd August 2020 · 2 mins read

Nordic & Swiss Data Response

Switzerland KOF Economic Barometer (July)

While the flare-up in cases in Europe is a key downside risk, the sharp increase in the KOF Economic Barometer in July suggests that the Swiss economy continued to bounce back at the start of Q3.

30th July 2020 · 2 mins read

Nordic & Swiss Data Response

Switzerland CPI (Jun.)

The lack of price pressures in Switzerland is nothing new, but will ensure that the SNB remains poised to combat bouts of upward pressure on the franc for the foreseeable future.

2nd July 2020 · 2 mins read

Nordic & Swiss Data Response

Manufacturing PMIs (Jun.)

The manufacturing PMIs from June add to the evidence that activity in Sweden and Norway has recovered comparatively quickly, but suggest that Swiss manufacturing is taking longer to find its feet.

1st July 2020 · 2 mins read