Nordic & Swiss Economics Update SNB language tweaks don’t signal policy shift The Swiss National Bank today acknowledged the depreciation of the franc over recent months but stressed that it was still necessary to keep interest rates at rock-bottom levels and maintain the... 14th September 2017 · 1 min read
Nordic & Swiss Chart Pack Q2 GDP data a mixed bag, but timelier data look strong The Q2 GDP data for the Nordic and Swiss economies were a mixed bag, but more timely indicators point to a strong second half of the year. 13th September 2017 · 1 min read
Nordic & Swiss Central Bank Watch SNB to stick to dovish script despite franc’s fall At its meeting on 14th September, the Swiss National Bank will surely draw some comfort from the depreciation of the franc since it last met in June. But renewed geopolitical tensions and the ECB’s... 7th September 2017 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q2) & Consumer Prices (Aug.) Switzerland’s Q2 GDP release confirmed that the economy expanded only very slowly in the first half of the year. While survey indicators suggest that growth will pick up, subdued inflation will keep... 5th September 2017 · 1 min read
Nordic & Swiss Economics Update Nordic and Swiss bond yields decline Bond yields in most Nordic and Swiss markets fell in August, matching global trends. Currencies recorded mixed performances against the euro, with the Swiss franc depreciating while the Swedish krona... 1st September 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Aug.) & Finnish GDP (Q2) August’s manufacturing PMIs pointed to continued recoveries in Switzerland and Norway, but the Swedish index weakened significantly. That said, with other indicators suggesting that the Swedish... 1st September 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF & Swedish Economic Tendency Indicators (Aug.) Falls Although surveys of overall economic sentiment in both Switzerland and Sweden fell in August, they still point to a healthy pace of GDP growth in both countries. But with inflation much stronger in... 30th August 2017 · 1 min read
Nordic & Swiss Data Response Norway GDP & Swiss Ind. Prod. (Q2) & Sweden Unemploy’t (Jul.) Norway’s mainland economy recorded another strong expansion in Q2 and forward-looking indicators suggest that the recovery will continue to gain pace. But with inflation set to fall further, we doubt... 24th August 2017 · 1 min read
Nordic & Swiss Economics Update Swiss wage growth to stay low despite unemployment falls The decline in Swiss unemployment in Q2 shows that improving economic conditions are continuing to feed through to the labour market. While we expect unemployment to fall further, we doubt that this... 17th August 2017 · 1 min read
Nordic & Swiss Chart Pack Geopolitical tensions halt Swiss franc’s slide The Swiss franc has had a rocky ride over the past month. In late July, it depreciated sharply to SFr1.15 to the euro, its lowest level since January 2015 when the Swiss National Bank abandoned its... 11th August 2017 · 1 min read
Nordic & Swiss Data Response Swiss Consumer Prices (Jul.) The Swiss National Bank (SNB) will be disappointed that July’s small rise in core inflation was driven by imported rather than domestically-produced products. As inflation expectations are consistent... 7th August 2017 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q2) & Swiss KOF (Jul.) Sweden’s exceptionally strong GDP growth was driven entirely by domestic demand and highlights the need for monetary policy normalisation. Meanwhile, July’s rise in the Swiss KOF points to a pick-up... 28th July 2017 · 1 min read
Nordic & Swiss Economics Update Mixed performances for Nordic and Swiss currencies After fairly big rises in yields in June, July was a quieter month for Nordic & Swiss government bonds. There was more action in the currency market, with the Norwegian krone and Swedish krona rising... 27th July 2017 · 1 min read
Nordic & Swiss Economic Outlook Sweden to lead the way with monetary tightening Economic prospects are fairly bright in the Nordic and Swiss countries. Switzerland is benefitting from faster growth in the euro-zone, Swedish firms are optimistic about their prospects, and Norway... 21st July 2017 · 1 min read
Europe Economic Outlook Euro-zone will continue to impress The European economies are still in good shape, with the euro-zone benefitting from reduced political uncertainty and high levels of business and consumer confidence. We think that this strong... 19th July 2017 · 1 min read
Nordic & Swiss Chart Pack Inflation pressures limited apart from in Sweden The latest inflation data for June suggest that underlying price pressures remain subdued in Switzerland and Norway, but continue to build in Sweden. In Switzerland, core inflation, which excludes... 14th July 2017 · 1 min read
