Nordic & Swiss Economic Outlook Tightening cycle not yet over The outlook for economic activity in the Nordics and Switzerland remains poor. GDP is already contracting sharply in Sweden and we think Norway and Switzerland will only narrowly avoid recessions... 14th April 2023 · 12 mins read
Nordic & Swiss Economics Weekly Credit Suisse post mortem, Norwegian stagflation Swiss lawmakers' vote against the Credit Suisse rescue package this week does not impact the bank's takeover by UBS or the associated government guarantees. However, it has highlighted the need for... 14th April 2023 · 4 mins read
Nordic & Swiss Data Response Inflation falls sharply, but interest rates set to rise further. March’s sharp fall in headline inflation in Switzerland will provide some relief for the SNB as the decrease was spread across a wide range of goods. However, underlying price pressures remain strong... 3rd April 2023 · 2 mins read
Nordic & Swiss Economics Weekly Lessons in liquidity from Credit Suisse Despite meeting its regulatory requirements, it took only a matter of days of stressed conditions for Credit Suisse to be forced into a takeover. A closer look at Credit Suisse's liquidity position... 31st March 2023 · 6 mins read
Nordic & Swiss Economics Weekly Keep calm and carry on hiking The UBS takeover of Credit Suisse may tighten lending conditions slightly due to reduced competition and potentially tighter regulation. But we don’t think there will be a significant impact on... 24th March 2023 · 5 mins read
Nordic & Swiss Economics Update SNB focuses on inflation and raises rates This morning’s 50bp interest rate hike by the Swiss National Bank (SNB), to 1.50%, was in line with expectations and shows that, like the ECB and Fed, Swiss policymakers have not been distracted from... 23rd March 2023 · 3 mins read
Nordic & Swiss Rapid Response Swiss National Bank Policy Meeting (March 2023) 23rd March 2023 · 2 mins read
Capital Daily Taking stock of the Swiss shotgun wedding Financial markets have greeted the second consecutive weekend bank rescue/resolution – this time in Switzerland – with cautious optimism. But there is still an enormous amount of uncertainty about... 20th March 2023 · 6 mins read
Climate Economics Update In other news from Switzerland … In ordinary times, today’s launch of the Intergovernmental Panel on Climate Change’s (IPCC) sixth synthesis report in Interlaken would have been the most high-profile news event to emerge from... 20th March 2023 · 3 mins read
Nordic & Swiss Economics Weekly Credit Suisse still under scrutiny The huge lifeline offered to Credit Suisse by the SNB this week has resolved its immediate liquidity problems but it may not be the end of the story given the bank's underlying problems. Meanwhile, we... 17th March 2023 · 5 mins read
Global Markets Update Banking stress raises another dilemma for central banks We are resending this Stress Monitor to include clients of our Global Economics Service. The ghosts of 2008 have made a sudden reappearance. Many metrics of core market functioning have worsened... 16th March 2023 · 9 mins read
Nordic & Swiss Data Response Switzerland CPI (Feb.) The CPI data for February suggest there is a long way to go before inflation returns to target especially as underlying prices pressures show no signs of abating, with the core inflation rate reaching... 6th March 2023 · 2 mins read
Nordic & Swiss Economics Weekly Sweden struggling, Switzerland holding up Data released this week showed that Sweden’s economy contracted by more than previously thought in Q4, and we expect further declines to come. But Switzerland’s economy is holding up better and there... 3rd March 2023 · 7 mins read
Nordic & Swiss Economics Update Strong franc is not the key to low Swiss inflation In our view, the Chairman of the SNB has over-stated the role of the exchange rate in explaining why inflation has remained so comparatively low in Switzerland in the past two years. However... 1st March 2023 · 4 mins read
Nordic & Swiss Data Response Switzerland GDP (Q4) Despite stagnating in Q4, the Swiss economy remained notably bigger than its pre-pandemic level and has outperformed its European peers. We are forecasting a contraction in Q1 2023 and for the economy... 28th February 2023 · 2 mins read
Nordic & Swiss Economics Weekly Swiss franc likely to remain broadly stable We had previously forecast the Swiss franc to rise against the euro in the first half of the year as we thought the ECB would raise interest rates a bit less than the market anticipated and that there... 20th January 2023 · 5 mins read
