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
Nordic & Swiss Data Response Norway Consumer Prices (May) The stronger-than-expected increase in Norway’s core inflation rate in May lends support to our forecast that the Norges Bank will step up the pace of tightening later this month. A 50bp hike in the... 10th June 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 Data Response Norway Consumer Prices (Apr.) The stronger-than-expected increase in core inflation in April raises the chances that the Norges Bank will step up the pace of tightening at its next rate decision, in June. Markets Drop-In (11 th... 10th May 2022 · 2 mins read
Nordic & Swiss Economics Update Norges Bank to resume its tightening cycle in June As was widely expected, the Norges Bank left interest rates on hold at +0.75% today and all but confirmed that “the policy rate will […] be raised in June”. After June, we forecast two more rate hikes... 5th May 2022 · 3 mins read
Nordic & Swiss Economics Weekly Uncandid Ingves, Norges Bank to take a breather In comparison to the excitement caused by the Riksbank’s meeting this week, the Norges Bank’s policy announcement next Thursday is likely to be a more prosaic affair. Indeed, while Governor Wolden... 29th April 2022 · 5 mins read
Nordic & Swiss Central Bank Watch Norges Bank to pause next week ahead of June hike We think that the Norges Bank will keep interest rates on hold, at +0.75%, next Thursday, before resuming its tightening cycle in June. We forecast one rate hike per quarter this year and next, which... 28th April 2022 · 5 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 Higher inflation and tighter policy in the Nordics Inflation data released this week across the Nordics confirmed that price pressures are building in the region. As a result, the Norges Bank looks set to press ahead with interest rate hikes, perhaps... 14th April 2022 · 4 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Mar.) Although headline and core inflation came in below expectations in March, underlying price pressures are likely to push both measures up a bit in the coming months. Meanwhile, the Norges Bank is more... 11th April 2022 · 2 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
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Rising pressure on property yields Property demand in the Scandinavian and Swiss markets is expected to hold up this year, as they are more insulated from the negative impacts of the war in Ukraine on economic activity. However... 24th March 2022 · 18 mins read
Nordic & Swiss Economics Update Norges Bank dials up hawkishness as SNB bides time Ida Wolden Bache kicked off her time in charge at the Norges Bank with a rate hike and prepared the ground for even more aggressive tightening. We now expect 175bps of hikes by end-2023, to 2.50%, and... 24th March 2022 · 4 mins read
Nordic & Swiss Economics Weekly SNB say relax; Norges Bank to press on with hikes The SNB does not seem to be losing much sleep about the strength of the franc against the euro, despite the currency’s brief foray past parity earlier this week. The truth of the matter is that euro... 11th March 2022 · 4 mins read
