Nordic & Swiss Economics Update SNB unlikely to let franc’s rise be sustained The franc’s downward trend went into reverse last month and turbulence in global financial markets has since threatened to push it up further. In the event of a sustained rout in equity markets, the... 7th February 2018 · 1 min read
Nordic & Swiss Economics Update Consensus underestimating scope for Icelandic rate rises As the recent rise in inflation has been due to temporary exchange rate effects, it was little surprise that the Central Bank of Iceland left policy unchanged today. But with further rises in... 7th February 2018 · 1 min read
Nordic & Swiss Economics Update Global forces push exchange rates and bond yields up Following developments in other developed economies this year, Nordic and Swiss currencies have appreciated while equity prices and bond yields have risen. Norway’s currency has outperformed, largely... 1st February 2018 · 1 min read
Nordic & Swiss Economics Update Housing risks to deter Norges Bank from raising rates While today’s Norges Bank announcement implies that it still expects to raise interest rates this autumn, we think that below-target inflation and weakness in the housing market will cause the Bank to... 25th January 2018 · 1 min read
Nordic & Swiss Economics Update Riksbank’s early reinvestments unlikely to delay rate rise While the Riksbank’s early bond reinvestments will make policy slightly more expansionary in the short term, the minutes of December’s meeting suggest that the decision to bring forward reinvestments... 10th January 2018 · 1 min read
Nordic & Swiss Economics Update Twenty-fourth time lucky for the Riksbank? After bringing its net asset purchases to a close last month, the Riksbank reiterated that it expects to raise interest rates in September this year. The Bank’s track record suggests that this... 4th January 2018 · 1 min read
Nordic & Swiss Economics Update Currencies weaken despite hawkish central banks The Swedish and Norwegian central banks delivered fairly hawkish assessments of the outlook for monetary policy this month, but that did not stop their currencies from depreciating. Meanwhile, the... 21st December 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank signals gradual shift towards tighter policy The Riksbank’s announcement that it will end its net asset purchases this month is the beginning of a shift towards tighter monetary policy in Sweden. We think that it will ultimately raise interest... 20th December 2017 · 1 min read
Nordic & Swiss Economics Update Interest rate hikes in Norway still a long way off The Norges Bank left its key policy rate unchanged after its meeting today and brought the date at which it forecasts raising interest rates forward to autumn 2018. We think that it will wait until... 14th December 2017 · 1 min read
Nordic & Swiss Economics Update SNB sits tight as franc still seen as “highly valued” The Swiss National Bank today reiterated that the Swiss franc remained “highly valued” and that it still needed to keep interest rates at rock-bottom levels and intervene in the currency markets as... 14th December 2017 · 1 min read
Nordic & Swiss Economics Update Icelandic policy rate on hold next year Following today’s decision to keep interest rates unchanged, the Central Bank of Iceland (CBI) noted that looser fiscal policy is a short-term risk to the monetary policy outlook. While we expect the... 13th December 2017 · 1 min read
Nordic & Swiss Economics Update Reviewing 2017 and looking ahead to 2018 In this Watch, we evaluate the performance of Nordic and Swiss economies in 2017 and set out our key calls for next year. 5th December 2017 · 1 min read
Nordic & Swiss Economics Update Housing market concerns weigh on Swedish markets Concerns about the prospect of a house price correction were felt across Swedish markets in November, with the krona slumping, bond yields declining and equities falling. Most other Nordic and Swiss... 1st December 2017 · 1 min read
Nordic & Swiss Economics Update Swedish house prices to stabilise next year We think that concerns about the Swedish housing market are overblown. While house prices are likely to edge down further in the coming months, we expect them to stabilise next year. 24th November 2017 · 1 min read
Nordic & Swiss Economics Update Will Finland’s strong economic recovery continue? Finland’s economic prospects look brighter than they have for several years. So as the ECB gradually scales back its stimulus over the next few years, we think that Finland’s government bond yields... 21st November 2017 · 1 min read
Nordic & Swiss Economics Update Icelandic monetary policy to be unchanged until 2019 Following today’s decision to keep interest rates unchanged, the Central Bank of Iceland (CBI) appears to have reached the end of its loosening cycle. We expect the Bank to keep rates on hold until... 15th November 2017 · 1 min read
