Nordic & Swiss Data Response Norway Consumer Prices (Dec.) The continued strength of core inflation will encourage the Norges Bank to press on with another 25bp interest rate increase next week. While there is still some more upside risk to underlying... 10th January 2023 · 2 mins read
Nordic & Swiss Economics Weekly Contrasting outlooks for Swiss and Swedes The latest data underline Sweden is suffering both a sharper slowdown and higher inflation than Switzerland. Meanwhile, we expect to learn next week that underlying inflation remains uncomfortably... 6th January 2023 · 9 mins read
Nordic & Swiss Data Response Switzerland CPI (Dec.) Headline inflation in Switzerland fell in December but the rise in the core rate will be a concern for SNB policymakers. We still think that the Bank will raise rates by just 25bp in March, compared... 4th January 2023 · 2 mins read
Nordic & Swiss Economics Weekly Swiss money supply, Swedish surveys The recent jump in money growth in Switzerland doesn't change our view that the SNB will raise interest rates only once more, to a peak of 1.25%, which would be lower than is priced into markets... 22nd December 2022 · 8 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Sharper value falls to come in 2023 Property values in Scandinavia and Switzerland have taken a hit as yields jumped in recent quarters. With valuations still stretched, we are forecasting a further 50bps and 30bps of rises at the all... 16th December 2022 · 2 mins read
Nordic & Swiss Economics Weekly Central banks unfinished in their battle with inflation Rate hikes were announced by many central banks this week, including the SNB and Norges Bank which raised rates by 50bp and 25bp respectively. However, inflation forecasts issued by the central banks... 16th December 2022 · 5 mins read
Nordic & Swiss Economics Update SNB hikes by 50bp, hints at more to come The SNB’s 50bp rate hike, to 1.00%, was in line with expectations but, more importantly, the Bank also raised its medium-term inflation forecast slightly, hinting that policymakers believe future... 15th December 2022 · 3 mins read
Nordic & Swiss Economics Update Only one more hike to come from the Norges Bank Today’s 25bp rate increase by the Norges Bank, to 2.75%, takes it very close to the end of its tightening cycle. But we think the Bank is a long way from pivoting to loosening policy. 15th December 2022 · 3 mins read
Nordic & Swiss Rapid Response Swiss National Bank Policy Meeting (Dec. 2022) 15th December 2022 · 2 mins read
Nordic & Swiss Rapid Response Norges Bank Policy Announcement (December 2022) 15th December 2022 · 2 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Nov.) The increase in Sweden’s measure of core inflation to 8.0% was a touch below expectations but it still marks a new 31-year high. With CPIF inflation having risen to well above the Riksbank’s recent... 14th December 2022 · 2 mins read
Nordic & Swiss Economics Weekly SNB and Norges Bank to hike on “Super Thursday” We expect the Norges Bank and Swiss National Bank to raise interest rates next Thursday, by 25bp and 50bp respectively, bringing an end to the tightening cycle for the SNB and getting close to the end... 9th December 2022 · 6 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Nov.) The declines in headline and core inflation in November won’t stop the Norges Bank from raising interest rates by 25bp next week. But they support our view that the tightening cycle is very nearly... 9th December 2022 · 2 mins read
Nordic & Swiss Central Bank Watch End of the tightening cycle approaching We expect the Norges Bank to raise its policy rate by 25bp next week, to 2.75%. Signs that the economy is weakening by more than expected might encourage policymakers to nudge down their interest rate... 8th December 2022 · 5 mins read
Nordic & Swiss Central Bank Watch SNB to end tightening cycle with 50bp hike The SNB is likely to look through the recent fall in inflation and hike rates by 50bp next Thursday, to 1.0%, in line with market expectations. We now think that this will be the end of the tightening... 8th December 2022 · 4 mins read
Nordic & Swiss Economics Weekly Tweaking our forecast for Switzerland With recent data suggesting that the Swiss economy is holding up better than we had anticipated, we now think GDP will be unchanged in 2023 compared to this year. That would still imply a weaker... 2nd December 2022 · 6 mins read
