Nordic & Swiss Economics Update Cautious SNB keeps policy unchanged The Swiss National Bank’s decision to leave interest rates on hold and pledge continued currency intervention if needed reflected the fact that inflation is still very low. With price pressures likely... 15th June 2017 · 1 min read
Europe Commercial Property Update Further headwinds for Swiss office rents A pick-up in the Swiss economy should improve demand for office space. However, the size of the development pipeline means that it could take longer than expected before prime office rents in Geneva... 13th June 2017 · 1 min read
Nordic & Swiss Central Bank Watch SNB to keep policy loose to support inflation’s rise The Swiss National Bank will once again stress after its meeting on 15th June that it remains prepared to act to prevent any significant renewed appreciation of the Swiss franc. Granted, the recent... 8th June 2017 · 1 min read
Nordic & Swiss Economics Update The outlook for Nordic and Swiss equities Nordic and Swiss equities have generally performed very well this year, but prospects differ significantly between countries. We expect Norwegian equities to outperform over the next 18 months as oil... 7th June 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Finnish GDP (Q1) Switzerland’s economic recovery gained pace in Q1 and business surveys suggest that this momentum will continue. But with inflation set to remain very subdued, we think that the SNB will keep policy... 1st June 2017 · 1 min read
Nordic & Swiss Economics Update Currencies rise against dollar while bond yields decline The Nordic and Swiss currencies all appreciated against the US dollar in May, but performances against the euro were mixed. Following global trends, government bond yields generally declined. While... 31st May 2017 · 1 min read
Nordic & Swiss Economics Update Buoyant euro-zone will help the SNB fight franc strength Given the improvement in the euro-zone’s political and economic outlook and the relative stance of monetary policy, we no longer expect the Swiss franc to appreciate against the euro. But the franc... 25th May 2017 · 1 min read
Nordic & Swiss Chart Pack Riksbank loosens while Norges Bank stands pat In the past month, central bank meetings have highlighted contrasts in the responses of policymakers towards inflation. In Sweden, inflation has been on an upward trend recently and is close to the... 12th May 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Swedish Consumer Prices (Apr.) The sharp divergence in Swiss and Swedish inflation in April supports our views that the Swiss National Bank will need to keep monetary policy loose for a long time to come but that Sweden’s Riksbank... 11th May 2017 · 1 min read
Nordic & Swiss Economics Update Nordic & Swiss currencies to rebound from April’s falls After depreciating against the euro in April, we think that the Swiss franc, Swedish krona and Norwegian krone will rebound, but for different reasons. Political risk could yet re-escalate in Europe... 3rd May 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Apr.) The PMIs weakened in April, but still point to faster manufacturing growth. And the Swedish survey suggests that inflation there will rise, supporting our view that the Riksbank erred in extending its... 2nd May 2017 · 1 min read
Nordic & Swiss Economics Update French election pushed currencies down and yields up Following Mr Macron’s victory in the first round of the French presidential election, Nordic and Swiss currencies depreciated and government bond yields rose. And dovish comments from policymakers at... 28th April 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF Economic Barometer (Apr.) April’s fall in the Swiss KOF Economic Barometer leaves it still pointing to a pick-up in annual GDP growth to around 2%. But with inflation extremely low and given signs that the strong franc is... 28th April 2017 · 1 min read
Nordic & Swiss Economic Outlook Strong growth throughout, but policy to diverge Prospects appear to have improved for all of the Nordic and Swiss economies, with surveys pointing to annual GDP growth of up to 3% in Switzerland and 5% in Sweden. Inflation has been subdued on the... 21st April 2017 · 1 min read
Europe Economic Outlook Outlook has brightened despite political risk The euro-zone has continued to perform very well and we now expect growth to be stronger than the consensus forecast this year and next. Inflation has been lower than we had assumed, meaning that... 19th April 2017 · 1 min read
Nordic & Swiss Chart Pack Activity surveys point to faster growth Activity surveys suggest that economic growth in the largest Nordic and Swiss economies is set to pick up. In Switzerland, the KOF Business Barometer points to annual GDP growth rising from Q4’s 0.6%... 13th April 2017 · 1 min read
