Nordic & Swiss Data Response Swiss GDP (Q2) This morning’s GDP data and the timelier surveys show that the Swiss economy is growing at a fairly strong pace. But inflationary pressures remain subdued. As a result, we still think that the SNB... 6th September 2018 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Aug.) In August, Swiss inflation was unchanged at its joint-highest level in over eight years. But underlying price pressures are subdued, and we think that falling oil prices and exchange rate effects will... 4th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Swiss franc strength unlikely to last The Swiss franc has strengthened against the euro this week, but we doubt that this will last. Meanwhile, we think that Sweden’s forthcoming general election is unlikely to have much of a... 31st August 2018 · 1 min read
Nordic & Swiss Central Bank Watch Nordic central banks gear up for interest rate rises Strong economic growth is fuelling inflationary pressures in both Norway and Sweden. So we expect the Norges Bank to follow through on its guidance and raise rates by 25bp next month. We doubt that... 30th August 2018 · 1 min read
Nordic & Swiss Data Response Swiss KOF & Swedish Econ. Tendency Indicator (Aug.) August’s surveys suggest that while economic growth is slowing in Switzerland, it remains very strong in Sweden. This is primarily due to differing conditions in the manufacturing sector, which might... 30th August 2018 · 1 min read
Nordic & Swiss Economics Weekly New franc forecasts, Swedish election heats up The upward pressure on the Swiss franc eased this week and our forecasts for monetary policy in Switzerland suggest that the currency will continue to depreciate against the euro over the next couple... 24th August 2018 · 1 min read
Nordic & Swiss Economics Update Where is the Swiss franc headed? Even after its recent rise, we still think that the Swiss franc will weaken against the euro over the coming years as the Swiss National Bank lags the ECB in tightening monetary policy. But sustained... 23rd August 2018 · 1 min read
Nordic & Swiss Data Response Norway GDP & Switzerland IP (Q2) The slowdown in Norway’s housing market is weighing on the economy. But other sectors are performing much better, so this won’t be enough to stop the Norges Bank from raising interest rates next month... 23rd August 2018 · 1 min read
Nordic & Swiss Economics Weekly Franc strength in focus, Norges Bank signals rate rise The further appreciation of the franc this week strengthens our view that the SNB will be very cautious about policy tightening, keeping rates on hold until 2020. Meanwhile, with inflationary... 17th August 2018 · 1 min read
Nordic & Swiss Chart Pack Soft inflation won’t stop rate rises in Sweden, Norway The latest inflation data in Switzerland and the Nordic economies show that underlying inflation is fairly low. But we doubt that this will stop the Norges Bank or Riksbank from raising interest rates... 16th August 2018 · 1 min read
Nordic & Swiss Economics Weekly SNB won’t welcome franc’s safe haven boost The renewed appreciation of the Swiss franc this week as investors sought out safe haven assets will not have been welcomed by the SNB. But the franc is still weaker than it has been over the past few... 10th August 2018 · 1 min read
Nordic & Swiss Economics Weekly PMIs point to decent start to Q3 July’s PMIs for the Nordic and Swiss countries, which were published this week, suggest that these countries continued their strong performance at the start of Q3. Swiss inflation data released... 3rd August 2018 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Jul.) July’s rise in Swiss inflation was driven by faster energy and food inflation, while underlying price pressures remained very weak. And with the franc set to remain strong by historical standards, we... 3rd August 2018 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q2) & Swiss KOF (Jul.) The Swedish economy grew very strongly in the first half of the year and is likely to continue performing well. This is set to drive wage growth gradually higher, prompting the Riksbank to raise... 30th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Temporary reprieve as EU-US trade tensions ease Given the openness of the Nordic & Swiss economies, their policymakers will have breathed a sigh of relief at the easing of trade tensions this week between the EU and the US. But should the current... 27th July 2018 · 1 min read
Nordic & Swiss Economics Update Flatter yield curves not a cause for concern Government bond yield curves in the Nordics and Switzerland have flattened this year, but we doubt that this signals that recessions are imminent in any of these economies. 25th July 2018 · 1 min read
