The renewed rise in the Swiss franc has lifted it back to territory that will ring alarm bells at the SNB, and the usual release of sight deposit data on Monday morning will indicate whether the Bank has put its money where its mouth is by intervening to stem the appreciation. Elsewhere, we expect data from Norway to show that CPI-ATE inflation remained well below the Norges Bank’s target in October, and that mainland GDP rose by 2.5% q/q in Q3, which would have left it about 1.5% higher than its Q4 2019 level.
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