Nordic & Swiss Data Response Sweden ETI (Dec.) The resilience of the ETI in December underlines that the Swedish economy is comparatively well-placed going into 2022. All told, the pressure on the Riksbank to soften its so-far dovish stance is... 21st December 2021 · 2 mins read
Nordic & Swiss Economics Weekly SNB to take ECB’s lead; Stoltenberg for NB? Having drawn flak from domestic banks for keeping interest rates well below zero since 2015, the SNB would surely take the chance to raise its policy rate at the earliest possibility after the ECB... 17th December 2021 · 5 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Nov.) The increase in Swedish CPIF inflation in November strengthens the hand of the hawks at the Riksbank and supports our view that policymakers will reduce the size of the balance sheet next year. But... 14th December 2021 · 2 mins read
Nordic & Swiss Economics Weekly How to get a job at the SNB; declining mobility Our CE Mobility Trackers for Sweden and Norway paint a downbeat picture for the consumer sector and mirror the clear downward trend seen in the euro-zone over H2 2021. So while we still expect the... 10th December 2021 · 5 mins read
Nordic & Swiss Economics Weekly Virus news testing the SNB; “Take 2” for Swedish PM Market worries about the B.1.1.529 virus variant have exacerbated upward pressure on the safe-haven Swiss franc and will test the SNB’s tolerance of a stronger currency. In our view, the Bank seems to... 26th November 2021 · 5 mins read
Nordic & Swiss Economics Update Riksbank injects a dash of hawkishness In comparison to the chaotic scenes in the Riksdag yesterday, the Riksbank’s November meeting was a more sedate affair. While the Bank is in no rush to raise the repo rate, the insertion of a rate... 25th November 2021 · 3 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Values to rise further The rebound in economic activity and robust investor demand paved the way for a continued improvement in Scandinavian and Swiss property markets in Q3. Office and industrial values rose further, as... 23rd November 2021 · 6 mins read
Commodities Weekly The energy crisis rumbles on … This week showed that the energy crisis is not in the rear-view mirror just yet. Germany’s energy regulator suspended its certification process of the Nord Stream 2 pipeline on Tuesday, owing to... 19th November 2021 · 6 mins read
Nordic & Swiss Central Bank Watch An opportunity to dial down the dovishness a touch The Riksbank is all but certain to leave its policy settings on hold next week. But against a backdrop of above-target inflation and the broader hawkish shift by policymakers elsewhere, we expect it... 18th November 2021 · 5 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Oct.) CPIF inflation rose to a 15-year high in October, although the headline rate was just half that reached in the US, for example, and the core rate remained below 2%. Policymakers won’t be losing sleep... 15th November 2021 · 2 mins read
Nordic & Swiss Economics Weekly Déjà vu at the SNB; labour shortages reach Greenland The renewed rise in the Swiss franc has lifted it back to territory that will ring alarm bells at the SNB, and the usual release of sight deposit data on Monday morning will indicate whether the Bank... 5th November 2021 · 5 mins read
UK Housing Market Focus How pandemic changes will affect European cities Europeans are returning to cities, though the return to offices has been much slower and this has had negative effects on city retail. Looking ahead, weaker demand for office and retail will weigh on... 2nd November 2021 · 14 mins read
Nordic & Swiss Data Response Sweden GDP Indicator (Q3) & ETI (Oct.) The stronger-than-expected growth in Swedish GDP in Q3 shows that the recovery continued apace over the summer, lifting activity even further above its pre-pandemic level. But while business... 28th October 2021 · 2 mins read
Nordic & Swiss Economic Outlook Well placed to navigate choppy waters As highly-open economies, Switzerland and the Nordics are far from immune to the issues of slowing global growth and supply-chain shortages that are currently vexing investors. Sweden is perhaps most... 20th October 2021 · 13 mins read
Nordic & Swiss Economics Weekly Few signs of inflation in Scandinavia While global financial markets are obsessing over the possible rebirth of inflation, there are precious few signs that it is about to take off in Scandinavia. The increases in headline inflation for... 15th October 2021 · 4 mins read
Nordic & Swiss Chart Pack Monetary policy divergences The Norges Bank’s tightening cycle began at the end of last month and we suspect that investors are underestimating the pace of rate hikes to come. By contrast, the Riskbank looks set to leave... 15th October 2021 · 5 mins read