Nordic & Swiss Economics

Nordic & Swiss Economic Outlook

18 April, 2019

In the shadow of the euro-zone

Weak growth in the euro-zone overshadows near-term prospects in Switzerland and the Nordics. We expect activity to slow in most countries this year and to stay sluggish in 2020. As a result, price pressures should generally remain subdued, prompting central banks to leave interest rates low for longer, or even cut them further in the case of Denmark. Meanwhile, if the ECB eventually re-starts QE, as we think likely, the resulting upward pressure on the Swiss franc will make life uncomfortable fo

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