Nordic & Swiss Economics Weekly SNB won’t welcome franc’s safe haven boost The renewed appreciation of the Swiss franc this week as investors sought out safe haven assets will not have been welcomed by the SNB. But the franc is still weaker than it has been over the past few... 10th August 2018 · 1 min read
Nordic & Swiss Economics Weekly PMIs point to decent start to Q3 July’s PMIs for the Nordic and Swiss countries, which were published this week, suggest that these countries continued their strong performance at the start of Q3. Swiss inflation data released... 3rd August 2018 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Jul.) July’s rise in Swiss inflation was driven by faster energy and food inflation, while underlying price pressures remained very weak. And with the franc set to remain strong by historical standards, we... 3rd August 2018 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q2) & Swiss KOF (Jul.) The Swedish economy grew very strongly in the first half of the year and is likely to continue performing well. This is set to drive wage growth gradually higher, prompting the Riksbank to raise... 30th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Temporary reprieve as EU-US trade tensions ease Given the openness of the Nordic & Swiss economies, their policymakers will have breathed a sigh of relief at the easing of trade tensions this week between the EU and the US. But should the current... 27th July 2018 · 1 min read
Nordic & Swiss Economics Update Flatter yield curves not a cause for concern Government bond yield curves in the Nordics and Switzerland have flattened this year, but we doubt that this signals that recessions are imminent in any of these economies. 25th July 2018 · 1 min read
Nordic & Swiss Chart Pack A mixed month for financial markets Swiss and Nordic financial markets have been a mixed bag over the past month. Equities in most countries have risen, supported by continued fairly strong economic growth. But equities in Norway and... 24th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Is franc strength still a worry? While Swiss politicians have long railed against the strength of the franc, Finance Minister Ueli Maurer appeared to throw in the towel this week. But we doubt that exporters, which fared very well in... 20th July 2018 · 1 min read
Nordic & Swiss Economic Outlook SNB lagging behind in the monetary tightening cycle Economic growth in Switzerland and across the Nordics looks set to remain pretty strong over the coming years. But inflationary pressures vary significantly between countries. We think that central... 20th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Soft inflation won’t deter Riksbank or Norges Bank According to the minutes of the Riksbank’s July meeting, Sweden’s monetary policymakers were particularly worried about the weakness of non-energy inflation. And with some justification. Data... 13th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Riksbank hawkish, Norwegian housing recovering The main event this week was the Riksbank meeting , at which the Bank reiterated that it expected to raise interest rates in December. And data released since the meeting support the case for the... 6th July 2018 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Jun.) & Swedish Production (May) June’s rise in Swiss inflation was driven by faster imported inflation, which we doubt will last. Domestic price pressures remain subdued, so we expect the SNB to leave interest rates unchanged until... 5th July 2018 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Jun.) Switzerland’s manufacturing PMI survey for June suggested that the economy is growing strongly, but inflationary pressures are weak. By contrast, Sweden’s survey implies that growth will slow, but... 2nd July 2018 · 1 min read
Nordic & Swiss Economics Weekly Swiss-EU talks at risk, Riksbank to signal Q4 rate rise The Swiss Government this week made no progress towards reaching a deal with Brussels that would see Switzerland retain its unrestricted access to the Single Market. With the anti-immigrant SVP party... 29th June 2018 · 1 min read
Nordic & Swiss Data Response Swiss KOF (June) & Danish GDP (Q1, 2nd est.) The small rise in the KOF Economic Barometer in June suggests that the Swiss economy will continue to grow at a decent pace. But with still little sign that this is generating inflationary pressures... 29th June 2018 · 1 min read
Europe Commercial Property Update Will a stronger Swiss economy boost rental prospects? The Swiss economy is forecast to put in a fairly decent performance over the next couple of years. But with strong office development pipelines, and already high retail rents, we think that the... 28th June 2018 · 1 min read
