Riksbank preparing for life after physical cash

While the Riksbank’s plans for an official digital currency are still in the early stages, we think it is more likely than not that it will launch the e-krona by the mid-2020s. Moreover, we suspect that it will opt for a design which has the potential to supercharge its ability to boost the economy in future downturns.
David Oxley Senior Europe Economist
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Nordic & Swiss Data Response

Switzerland CPI & Manufacturing PMIs (Jul.)

While inflation in Switzerland is likely to rise further in the coming months, the anticipated bout of re-opening inflation may have already passed, and the SNB will not be fazed.

2 August 2021

Nordic & Swiss Economics Update

Iceland’s shorter working week not a holy grail

The success of reduced working hour trials in Iceland was largely founded on adopting better working practices which, if embraced elsewhere, might offer no-cost ways of achieving better work-life balances. However, given that Iceland’s trials were centred on the public sector, and that Icelanders typically work longer hours than most in Europe, the broader lessons for other countries should not be overstated.

30 July 2021

Nordic & Swiss Economics Weekly

KOF coming back earth; Sweden powering ahead

The latest fall in the KOF Economic Barometer suggests that the tailwinds that have driven the rebound in the Swiss industrial sector are fading. But with the hospitality sector going from strength to strength, all signs point to Swiss GDP surpassing its pre-virus level in Q3 (if it didn’t quite manage it in Q2). Next week, we expect data released on Monday to show that the headline Swiss inflation rate rose to a 33-month high of 0.9% in July. Meanwhile, the set of manufacturing PMIs may provide further evidence that the rebounds in industrial activity have peaked.

30 July 2021

More from David Oxley

Nordic & Swiss Data Response

Switzerland GDP (Q1 2021) & PMIs (May)

Data released this morning confirmed that the Swiss economy started 2021 on the back foot following a tightening in virus-related restrictions. However, activity will have gathered pace in Q2.

1 June 2021

Nordic & Swiss Economics Weekly

Swiss seven-year itch; lots to ponder at the Riksbank

The breakdown of the Swiss/EU Treaty talks has taken the headlines this week, but the Swiss economy appears to be galloping ahead in any case. While the belated release of Q1 GDP data next week is likely to show that output contracted as virus restrictions bit, business surveys suggest that the economy got into its stride in Q2 and the upside risks to our 2021 forecasts are building. Meanwhile, the releases of the PMIs from May next week are likely to show that industrial sectors remained in rude health.

28 May 2021

Nordic & Swiss Economics Update

Switzerland waves Auf Wiederloge to a new EU Treaty

While the breakdown in Treaty talks between Switzerland and the EU makes the outlook for Swiss exporters more uncertain, we doubt that the lasting economic impact will be very big.

27 May 2021
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