Nordic & Swiss Economics Weekly Norway and Switzerland still thriving Data published this week show that –in contrast to Germany – Norway and Switzerland’s economies are continuing to perform well. But rising inflation will force central banks in both countries to... 19th August 2022 · 5 mins read
Nordic & Swiss Data Response Switzerland CPI (Jul.) Swiss inflation appears to have peaked in July at an enviably low level compared to that of most other advanced economies. That said, the core rate reached its highest level in more than two decades... 3rd August 2022 · 2 mins read
Nordic & Swiss Economics Weekly Nordic footballing woes; Record loss for SNB The 4-nil semi-final defeat at the hands of England on Tuesday will do nothing to bolster consumer confidence in Sweden, which is sinking faster than the boats that Freya the walrus climbed onto this... 29th July 2022 · 5 mins read
Nordic & Swiss Data Response Switzerland CPI (Jun.) Although Swiss inflation remains enviably low compared to many advanced economies, the further increase in the core rate will only strengthen the SNB’s resolve to squeeze price rises out of the system... 4th July 2022 · 2 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Rising interest rates to hit values The rapid turnaround in the interest rate environment has led us to revise down our expectations for property performance in Scandinavia and Switzerland. Property valuations deteriorated sharply in Q1... 27th June 2022 · 17 mins read
Nordic & Swiss Economics Weekly More on the SNB; Norges Bank to hike by 50bp Even after the strong gains in the franc against the euro and US dollar after yesterday’s SNB rate hike, the Swiss real effective exchange rate is still about 5% below its level in early 2020 when the... 17th June 2022 · 4 mins read
Nordic & Swiss Economics Update SNB steals a march on the ECB After the excitement of yesterday’s ECB emergency meeting and 75bp hike by the US Fed, the SNB kept its end up by unexpectedly raising its policy rate by 50bps this morning – its first rate rise since... 16th June 2022 · 3 mins read
Nordic & Swiss Economics Weekly Farewell, Cecilia Skingsley; rate hikes & house prices We expect house prices to fall in Sweden and Norway this year as rising interest rates push up borrowing costs. But the peak-to-trough declines are likely to be smaller than those in Canada, Australia... 10th June 2022 · 5 mins read
Europe Economics Looming ECB rate hikes give SNB plenty to ponder We forecast the SNB to largely shadow ECB rate hikes over the next 18 months or so, albeit allowing the interest rate differential with the euro-zone to widen from 25bps at present to 50bps by end... 7th June 2022 · 4 mins read
Nordic & Swiss Data Response Switzerland GDP (Q1) The stronger-than-expected increase in Swiss GDP in Q1 provides a solid base for year-on-year growth rates throughout 2022. But with surveys heading south, and signs of stagnation in the euro-zone in... 31st May 2022 · 2 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Value gains set to slow The recovery continued in the Scandinavian and Swiss economies and their property markets in Q1. It was a record first quarter for investment in Scandinavia. And annual capital value growth was robust... 24th May 2022 · 5 mins read
Nordic & Swiss Economics Weekly Dumbo does monetary policy in Stockholm The elephant-based metaphor used by Governor Ingves this week to describe how the ECB’s actions affect the Riksbank was particularly well judged given the increasing chance that Swedish and euro-zone... 20th May 2022 · 5 mins read
Nordic & Swiss Economics Weekly Schlegel gets a pay rise; new split at the Riksbank The fact that the successor to Fritz Zurbrügg as Vice-Chair of the SNB’s Governing Board, Martin Schlegel, is an SNB stalwart means the looming changes at the top are unlikely to change the decision... 6th May 2022 · 6 mins read
Nordic & Swiss Economic Outlook Under pressure from weaker euro-zone growth The higher prevalence of renewables in the energy mixes than in most of Europe means the squeeze on incomes from higher gas prices will be less acute in Switzerland and the Nordics, and Norway even... 27th April 2022 · 12 mins read
Nordic & Swiss Economics Weekly Flodén leaves no room for ambiguity Riksbank policymaker Martin Flodén dialled up the hawkishness this week, arguing that monetary policy must respond to higher inflation. And with data due next week likely to show Swedish inflation in... 8th April 2022 · 6 mins read
Nordic & Swiss Economics Weekly Hold the press! SNB to join the hiking party this year The fact that we expect the ECB to hike interest rates sooner and faster than we previously anticipated shifts the goalposts for the SNB and, after a prolonged period of policy hibernation, brings... 1st April 2022 · 4 mins read
