Nordic & Swiss Economics Weekly Defiant SNB; slowing recoveries Comments this week by Thomas Jordan reiterated that the SNB is not fazed by Switzerland’s inclusion on the US Treasury’s monitoring list of potential currency manipulators, and that policymakers would... 9th October 2020 · 5 mins read
Nordic & Swiss Economics Weekly NOK to push for parity against SEK next year We think the combination of a recovery in risk appetite and an expected increase in oil prices will support the Norwegian krone in 2021, and that it will regain ground on its Swedish cousin. Data due... 2nd October 2020 · 5 mins read
Nordic & Swiss Data Response Switzerland CPI (Sep.), Manufacturing PMIs (Sep.) While Swiss inflation has risen since reaching a trough in June, it is likely to stay very weak in the near term. Meanwhile, the positive set of September manufacturing PMIs from Switzerland and... 1st October 2020 · 2 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Virus seals dominance of industrials Investment activity and rents have felt the impact of the virus, with the retail sector bearing the brunt. Indeed, after falling by around 2% this year, we think that Scandinavian retail rents will... 28th September 2020 · 18 mins read
Nordic & Swiss Economics Weekly Fighter jets, wolves, and immigration While Sunday’s vote on restricting freedom of movement between Switzerland and the EU seems unlikely to pass, it puts the strained relations between the Swiss government and the EU back in focus. Next... 25th September 2020 · 6 mins read
Nordic & Swiss Economics Weekly Policymakers to keep their powder dry next week The three scheduled policy meetings next week are unlikely to result in any changes to policy settings. However, we would not be surprised to see the Norges Bank bring forward the projected start-date... 18th September 2020 · 4 mins read
Nordic & Swiss Chart Pack Norway’s fading rebound a warning sign for others Given Norway’s decision to re-open its economy comparatively early, its post-lockdown experience has been watched closely for clues as to how other economies could expect to fare. The latest monthly... 11th September 2020 · 5 mins read
Nordic & Swiss Economics Weekly Norges Bank unlikely to tighten anytime soon While core inflation in Norway rose even further above the Norges Bank’s target in August, things will soon look very different as the inflationary impact of previous falls in the krone fades and goes... 11th September 2020 · 4 mins read
Nordic & Swiss Economics Weekly Riksbank shrugs off krona surge The Swedish krona has risen the most of any G10 currency against the US dollar this year, but its trade-weighted index is not particularly strong, so policymakers don’t seem to be losing much sleep... 4th September 2020 · 6 mins read
Nordic & Swiss Data Response Manufacturing PMIs (Aug.) The positive set of August manufacturing PMIs from Switzerland and the Nordics suggests that the recovery in industrial activity continued over the summer. While the fortunes of industry depend in... 1st September 2020 · 2 mins read
Nordic & Swiss Economics Weekly KOF hits decade-high; retail sugar-rush starting to fade The Swiss economy contracted by more than those in the Nordics in the first half of the year but appears to have rebounded strongly in the third quarter. Rising virus cases in the country are... 28th August 2020 · 5 mins read
Nordic & Swiss Economics Update Nordics top the class with their virus responses While Sweden’s economy got off relatively lightly in H1 thanks to the light-touch lockdown, Norway and Finland saw even smaller falls in activity at a lower human cost. Nonetheless, the success of the... 26th August 2020 · 4 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Retail not off the hook yet Q2 data was a mixed bag as all markets recorded shifts in yields while only a handful of markets saw moves in rents. That said, Scandinavian investment activity took a significant hit in Q2, and... 24th August 2020 · 6 mins read
Nordic & Swiss Chart Pack Recovery on track after comparatively shallow slump Compared to many of the larger euro-zone countries, the coronavirus remains relatively well under control in the Nordic countries and Switzerland. With the exception of Denmark, there are at this... 13th August 2020 · 5 mins read
Nordic & Swiss Data Response Norway & Denmark Consumer Prices (Jul.) The lagged impact of exchange rate movements will ensure that inflation remains above the Norges Bank’s target throughout the second half of this year. However, this effect will fade in early-2021 and... 10th August 2020 · 2 mins read
Nordic & Swiss Economics Weekly Swedish experience dashes hopes of rapid recoveries The fact that the contraction in Swedish GDP in Q2 was smaller than elsewhere in Europe understandably took the headlines this week. However, Sweden’s experience still demonstrates the extent to which... 7th August 2020 · 6 mins read
