Nordic & Swiss Data Response Manufacturing PMIs (Apr.) April’s manufacturing PMIs provide some reassurance that the Swiss and Norwegian economies bounced back after making slow starts to the year. Sweden’s PMI was quite weak, but other survey indicators... 2nd May 2018 · 1 min read
Nordic & Swiss Economics Update Weaker currencies and higher oil prices boost equities Amid escalating international trade tensions, the Nordic and Swiss currencies depreciated across the board in April. Weaker exchange rates helped to give equities a boost, while the main bourses in... 27th April 2018 · 1 min read
Nordic & Swiss Central Bank Watch Norges Bank to keep guidance unchanged, for now The Norges Bank is unlikely to respond to recent weak data by altering its forward guidance next week. But we still think that it will ultimately tighten policy a little more slowly than generally... 26th April 2018 · 1 min read
Nordic & Swiss Economic Outlook Tighter monetary policy on the horizon While the Nordics and Switzerland seem to have made slow starts to 2018, the outlook for these economies is generally pretty bright. Nevertheless, healthy rates of economic growth will push up... 20th April 2018 · 1 min read
Nordic & Swiss Chart Pack Trade fears weigh on Swiss franc and Swedish krona Both the Swiss franc and the Swedish krona have depreciated by almost 1.5% against the euro over the past month. This has left the franc trading at its weakest level since the Swiss National Bank... 13th April 2018 · 1 min read
Nordic & Swiss Data Response Norwegian & Danish Consumer Prices (Mar.) March’s weak inflation data in Norway strengthen the case for the Norges Bank to move only very slowly towards tightening monetary policy. We suspect that it will wait until 2019 to raise interest... 10th April 2018 · 1 min read
Nordic & Swiss Economics Update How did the Nordic & Swiss economies fare in Q1? The activity surveys across the Nordics and in Switzerland generally weakened in Q1. But they were still fairly strong, so on the whole these economies seem to have performed reasonably well in the... 3rd April 2018 · 1 min read
Nordic & Swiss Economics Update Trump concerns weigh on Nordic and Swiss markets In March, equity prices and bond yields in the Nordics and Switzerland were pushed down by concerns about US trade policy, while exchange rate movements were more mixed. Looking ahead, we expect... 29th March 2018 · 1 min read
Nordic & Swiss Economics Update The outlook for bonds in Switzerland and the Nordics The Nordic central banks are all moving towards tightening monetary policy, albeit at different speeds. We think that higher interest rates will come first in Sweden, pushing up government bond yields... 20th March 2018 · 1 min read
Nordic & Swiss Chart Pack Inflation outturns weak The latest inflation data in the Nordic countries and Switzerland have generally been quite weak. Indeed, inflation in Switzerland slowed to a five-month low of 0.6% in February. The core rate was... 16th March 2018 · 2 mins read
Nordic & Swiss Economics Update Norges Bank edging towards tighter policy Following the recent reduction in its inflation target, the Norges Bank now clearly expects to begin raising interest rates this year. However, we think that it will tighten monetary policy more... 15th March 2018 · 1 min read
Nordic & Swiss Central Bank Watch How big a deal is the new lower inflation target? The Norges Bank’s new inflation target strengthens the case for tighter monetary policy. But we think that the Bank will move very cautiously. 9th March 2018 · 1 min read
Nordic & Swiss Data Response Norway CPI (Feb) & Iceland GDP (Q4) Inflation in Norway rose quite sharply in February, but we do not think that it is about to surge. Meanwhile, Icelandic GDP growth would have been negative in Q4 was it not for a one-off intellectual... 9th March 2018 · 1 min read
Nordic & Swiss Economics Update Will Nordic and Swiss equities continue to struggle? After a tough start to 2018, we think that equities in the Nordic countries and Switzerland will continue to struggle over the next couple of years. But their performance will be far from uniform. 7th March 2018 · 1 min read
Nordic & Swiss Chart Pack A robust start to 2018 The official data suggest that the Nordic & Swiss economies recorded fairly mixed performances at the end of last year. So far, only Norway has published national accounts data for Q4. This release... 13th February 2018 · 1 min read
Nordic & Swiss Data Response Norway GDP (Q4) & CPI (Jan.) Norway’s mainland GDP recorded another strong expansion in Q4, rounding off a pretty good year for the economy. However, inflation slowed sharply in January, highlighting that price pressures remain... 9th February 2018 · 1 min read
