Nordic & Swiss Economic Outlook Exchange rates to diverge as Swedish krona rises Prospects for the Nordic economies and Switzerland are strong, but there are divergent outlooks for monetary policy. In Sweden, inflation is already close to the Riksbank’s target and, with capacity... 22nd January 2018 · 1 min read
Nordic & Swiss Chart Pack A busy month for central banks The three major Nordic and Swiss central banks met in December and provided very different messages about the outlook for monetary policy in their respective countries. First, the Swiss National Bank... 15th January 2018 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Dec.) Despite December’s jump in inflation in Norway, underlying price pressures remain subdued. With house price inflation falling further into negative territory, we suspect that it will be a long time... 10th January 2018 · 1 min read
Nordic & Swiss Economics Update Twenty-fourth time lucky for the Riksbank? After bringing its net asset purchases to a close last month, the Riksbank reiterated that it expects to raise interest rates in September this year. The Bank’s track record suggests that this... 4th January 2018 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Dec.) December’s Swedish and Norwegian manufacturing PMIs suggest that industry in both countries ended 2017 on a strong note. But only in Sweden do we expect healthy economic growth to put sustained upward... 2nd January 2018 · 1 min read
Nordic & Swiss Economics Update Currencies weaken despite hawkish central banks The Swedish and Norwegian central banks delivered fairly hawkish assessments of the outlook for monetary policy this month, but that did not stop their currencies from depreciating. Meanwhile, the... 21st December 2017 · 1 min read
Nordic & Swiss Chart Pack Denmark weak in Q3, Sweden powered ahead The Nordic and Swiss Q3 GDP data revealed large differences between the best and worst performing economies. A quarterly contraction of 0.6% meant that Denmark underperformed the rest of the pack by a... 12th December 2017 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Nov.) Inflation in Norway has probably reached a trough, but it is unlikely to rebound strongly. With house price inflation also slowing very sharply, we suspect that at its meeting on Thursday the Norges... 11th December 2017 · 1 min read
Nordic & Swiss Economics Update Reviewing 2017 and looking ahead to 2018 In this Watch, we evaluate the performance of Nordic and Swiss economies in 2017 and set out our key calls for next year. 5th December 2017 · 1 min read
Nordic & Swiss Economics Update Housing market concerns weigh on Swedish markets Concerns about the prospect of a house price correction were felt across Swedish markets in November, with the krona slumping, bond yields declining and equities falling. Most other Nordic and Swiss... 1st December 2017 · 1 min read
Nordic & Swiss Data Response Swiss & Danish GDP (Q3), Swiss KOF (Nov.) After a weak first half of 2017, Switzerland’s economic recovery strengthened in Q3. And the latest leading indicators provide hope that GDP growth will accelerate further in the coming quarters. 30th November 2017 · 1 min read
Nordic & Swiss Chart Pack Nordic house price inflation slowing House price inflation in several Nordic economies is slowing, and in some cases sharply. In Sweden housing inflation fell to 6.7% in October, its slowest in four years. And in Stockholm, where prices... 16th November 2017 · 1 min read
Europe Economics Weekly Softer services activity is no cause for alarm The latest euro-zone data have brought signs of a slowdown in activity in the services sector compared to that in manufacturing. But we suspect that the slowdown in services will be modest. After all... 10th November 2017 · 1 min read
Nordic & Swiss Data Response Norwegian and Danish Consumer Prices (Oct.) The sharp decline in inflation over the past 15 months has largely run its course, but it is unlikely to rebound strongly. We think that core inflation will remain well below the Norges Bank’s 2.5%... 10th November 2017 · 1 min read
Nordic & Swiss Economics Update Iceland’s election result reduces chance of fiscal boost At least four parties will be required to form a majority government following Iceland’s election, so coalition negotiations are set to take a number of months. As the left-wing parties performed... 1st November 2017 · 1 min read
Nordic & Swiss Economics Update Central bank actions push bond yields down In October, a combination of rising bond yields in the US and lower bond yields at home pushed Nordic and Swiss currencies down against the dollar. Weaker exchange rates, as well as decent economic... 30th October 2017 · 1 min read
