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The CBDCs are coming

We expect some major central banks to issue digital currencies later this decade, with those in countries where cash is rarest proceeding the fastest. The first generation of central bank digital currencies will be purposely designed not to shake up the status quo. But once established they would offer powerful new policy tools. It would be naïve to think that sooner or later central banks won’t consider using them.
David Oxley Senior Europe Economist
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Recent falls in equity prices have not prompted downgrades to our global growth forecasts since the passthrough to the real economy is limited and part of the bad news has already been factored in to consumer confidence. But the correction will contribute to a tightening of financial conditions which is another reason to believe that growth in major economies will be weaker than consensus forecasts imply.

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Nordic & Swiss Data Response

Norway GDP (May) & Sweden GDP Indicator (May)

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Nordic & Swiss Economics Update

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1 July 2021
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