Nordic & Swiss Economics Weekly Swiss price pressures set to remain muted The fall in Swiss inflation in September is a sign of things to come. Indeed, exchange rate effects and weak wage growth are set to ensure that price pressures remain very weak, keeping the SNB on... 5th October 2018 · 1 min read
Nordic & Swiss Economics Update Iceland’s central bank signals higher rates on the cards Although the Central Bank of Iceland left monetary policy unchanged today, it reiterated that it was prepared to take action if inflation expectations rise further. We think that this is likely and... 3rd October 2018 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Sep.) September’s falls in the Swiss and Norwegian manufacturing PMIs leave them still pointing to strong growth in the sector. But it is in Sweden that price pressures seem to be strongest. 1st October 2018 · 1 min read
Nordic & Swiss Economics Weekly Case for 2018 hikes in Sweden and Iceland building There are still no signs that domestic political uncertainty is weighing on the Swedish economy, so we continue to expect the Riksbank to raise rates in December. Meanwhile, rising inflation... 28th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Norges Bank has lift off, SNB to remain grounded The Norges Bank’s “dovish hike” this week caused the krone to weaken, and we think that this is a sign of things to come. Meanwhile, the Swiss National Bank left policy unchanged, and we suspect that... 21st September 2018 · 1 min read
Nordic & Swiss Chart Pack GDP growth set to slow The Swiss and Nordic economies generally performed well in Q2, but most of the timelier survey indicators point to slower growth to come. Switzerland’s economy expanded very strongly in the first half... 18th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Sweden’s election dead heat no big deal for Riksbank Political uncertainty following Sweden’s general election last weekend is unlikely to meaningfully alter the Riksbank’s plans to start tightening policy around the turn of the year. Meanwhile, in... 14th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Swiss franc strength unlikely to last The Swiss franc has strengthened against the euro this week, but we doubt that this will last. Meanwhile, we think that Sweden’s forthcoming general election is unlikely to have much of a... 31st August 2018 · 1 min read
Nordic & Swiss Central Bank Watch Nordic central banks gear up for interest rate rises Strong economic growth is fuelling inflationary pressures in both Norway and Sweden. So we expect the Norges Bank to follow through on its guidance and raise rates by 25bp next month. We doubt that... 30th August 2018 · 1 min read
Nordic & Swiss Economics Update Iceland’s central bank on hold but rates to rise this year Although the Central Bank of Iceland left policy unchanged today, it expressed concern about rising inflation expectations ahead of wage negotiations later this year. So domestic inflationary... 29th August 2018 · 1 min read
Nordic & Swiss Economics Weekly New franc forecasts, Swedish election heats up The upward pressure on the Swiss franc eased this week and our forecasts for monetary policy in Switzerland suggest that the currency will continue to depreciate against the euro over the next couple... 24th August 2018 · 1 min read
Nordic & Swiss Economics Weekly Franc strength in focus, Norges Bank signals rate rise The further appreciation of the franc this week strengthens our view that the SNB will be very cautious about policy tightening, keeping rates on hold until 2020. Meanwhile, with inflationary... 17th August 2018 · 1 min read
Nordic & Swiss Chart Pack Soft inflation won’t stop rate rises in Sweden, Norway The latest inflation data in Switzerland and the Nordic economies show that underlying inflation is fairly low. But we doubt that this will stop the Norges Bank or Riksbank from raising interest rates... 16th August 2018 · 1 min read
Nordic & Swiss Economics Weekly SNB won’t welcome franc’s safe haven boost The renewed appreciation of the Swiss franc this week as investors sought out safe haven assets will not have been welcomed by the SNB. But the franc is still weaker than it has been over the past few... 10th August 2018 · 1 min read
Nordic & Swiss Economics Weekly PMIs point to decent start to Q3 July’s PMIs for the Nordic and Swiss countries, which were published this week, suggest that these countries continued their strong performance at the start of Q3. Swiss inflation data released... 3rd August 2018 · 1 min read
Nordic & Swiss Economics Weekly Temporary reprieve as EU-US trade tensions ease Given the openness of the Nordic & Swiss economies, their policymakers will have breathed a sigh of relief at the easing of trade tensions this week between the EU and the US. But should the current... 27th July 2018 · 1 min read
