Nordic & Swiss Economics Update Iceland’s Sedlabanki holds rates but will hike later this year Iceland’s central bank left its main interest rates on hold today as it waits to judge the outcome of the ongoing wage negotiations. But with labour market tensions growing and the Sedlabanki raising... 18th March 2015 · 1 min read
Nordic & Swiss Economics Update Has the tide turned for the Danish krone? The recent sharp drop in the Danish krone back to its central rate against the euro suggests that the Danish Nationalbank has been successful in preserving its currency peg. But the upward pressure on... 25th February 2015 · 1 min read
Nordic & Swiss Economics Update Swedish Riksbank follows the negative trend The Swedish Riksbank today became the latest central bank to respond to the threat of persistent deflation by pushing interest rates into negative territory and launching a quantitative easing... 12th February 2015 · 1 min read
Nordic & Swiss Economics Update Danish central bank needs to do more to defend euro peg The viability of Denmark’s currency peg with the euro has been called into question following the Swiss National Bank’s decision to abandon its exchange rate ceiling. We think that the Danish peg will... 21st January 2015 · 1 min read
Nordic & Swiss Economics Update Sustained franc strength will hit Swiss economy hard The Swiss National Bank’s (SNB) shock decision to abandon its ceiling for the franc reflected its judgement that the policy was just not sustainable. Unless it can reverse the franc’s appreciation... 15th January 2015 · 1 min read
Nordic & Swiss Economics Update Sweden gearing up for unconventional monetary policy Sweden’s central bank today pushed back the date at which it expects to raise its policy rate from zero and revealed that it was preparing unconventional measures to make policy even more expansionary... 16th December 2014 · 1 min read
Nordic & Swiss Economics Update SNB will need to act against the franc very soon While the Swiss National Bank (SNB) left policy on hold today, it reaffirmed its “utmost determination” to defend its ceiling for the franc exchange rate. It may introduce a negative interest rate to... 11th December 2014 · 1 min read
Nordic & Swiss Economics Update Deflation a bigger threat to Sweden than Budget chaos The new Swedish Government lost a key parliamentary vote on its Budget today, throwing politics in the country into turmoil and raising the possibility of fresh elections. But the potential upheaval... 3rd December 2014 · 1 min read
Nordic & Swiss Economics Update How will other European central banks react to ECB QE? The likely introduction of “full-blown” quantitative easing by the ECB may well put pressure on other European central banks to follow suit and introduce their own unconventional measures in order to... 1st December 2014 · 1 min read
Nordic & Swiss Economics Update Gold referendum highlights limits of SNB policy Fears that a referendum over the Swiss National Bank’s (SNB’s) gold holdings might prevent the Bank defending its ceiling for the Swiss franc may be overblown. But the referendum highlights political... 4th November 2014 · 1 min read
Nordic & Swiss Economics Update Riksbank cuts rates to zero but deflation threat persists Sweden’s central bank today stepped up its fight against deflation, cutting its main policy rate to a record low of 0% and pushing back the date at which it first expects to raise rates. We think that... 28th October 2014 · 1 min read
Nordic & Swiss Economics Update Sweden’s return to the left won’t banish stagnation fears Sweden’s general election yesterday resulted in defeat for the centre-right coalition Alliance Government after two terms in power but produced no overall majority for the centre-left opposition... 15th September 2014 · 1 min read
Nordic & Swiss Economics Update Danish central bank will need to do more to weaken krone The ECB’s unexpected announcement last week that it would lower interest rates again forced the Danish central bank to reinstate a negative deposit rate to protect the Danish krone’s peg to the euro... 10th September 2014 · 1 min read
Nordic & Swiss Economics Update Swedish Riksbank still fighting deflationary threat Sweden’s central bank today left its main policy rate on hold at 0.25% and reiterated that interestrates would not start to rise until late 2015 as it continues its fight to stave off deflation. But... 4th September 2014 · 1 min read
Nordic & Swiss Economics Update Swedish Riksbank still fighting deflationary threat Sweden’s central bank today left its main policy rate on hold at 0.25% and reiterated that interestrates would not start to rise until late 2015 as it continues its fight to stave off deflation. But... 4th September 2014 · 1 min read
Nordic & Swiss Economics Update Sedlabanki hints that rate hikes will soon be needed Iceland’s central bank kept its main interest rate unchanged at 6% at its meeting today but hinted strongly that rates will need to rise soon. We continue to think that the Sedlabanki will raise the... 20th August 2014 · 1 min read
