Nordic & Swiss Data Response Swedish Consumer Prices (Aug.) Although CPIF inflation was above target in August, the further decline in non-energy inflation will worry the Riksbank. If it remains soft, then the Bank will probably keep rates on hold until early... 14th September 2018 · 1 min read
Nordic & Swiss Economics Update Sweden’s political upheaval won’t alter fiscal outlook While Sweden looks set for a period of political uncertainty, the broad fiscal consensus among mainstream politicians suggests that, whoever takes power, the near-term economic outlook will not be... 11th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Swedish election not a game-changer The latest opinion polls suggests that Sunday’s general election in Sweden will be a close call. But the outcome of the vote is unlikely to significantly alter the outlook for the economy or monetary... 7th September 2018 · 1 min read
Non-Euro Europe Commercial Property Outlook Structural changes favour the industrial sector Rates of rental and capital value growth are set to slow in Scandinavia and Switzerland, but Copenhagen industrial property still looks attractive. Total returns will be higher in Emerging Europe... 7th September 2018 · 1 min read
Nordic & Swiss Economics Update Riksbank to raise rates in December Despite the more dovish tone of today’s policy announcement, the Riksbank looks likely to raise interest rates in December. We think that the Bank will then tighten more quickly in 2019 and 2020 than... 6th 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 Political uncertainty won’t derail Swedish economy Following September’s general election, Sweden looks set for a period of political uncertainty that might dent economic activity. But this is likely to prove temporary and we doubt that it would... 21st 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 Data Response Sweden, Norway, Denmark CPI (Jul.) Underlying inflation is still fairly weak in the Nordic economies. But given increased capacity utilisation and rising wage pressures in both Sweden and Norway, we expect both the Riksbank and the... 10th August 2018 · 1 min read
Nordic & Swiss Economics Update Will soft inflation delay Riksbank tightening? Non-energy inflation in Sweden has been unexpectedly weak in recent months, prompting investors to push back their expectations of the first rate rise into 2019. But there is evidence of rising cost... 8th 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
