Nordic & Swiss Chart Pack Nordic house price inflation slowing House price inflation in several Nordic economies is slowing, and in some cases sharply. In Sweden housing inflation fell to 6.7% in October, its slowest in four years. And in Stockholm, where prices... 16th November 2017 · 1 min read
Nordic & Swiss Data Response Swe. Consumer Prices (Oct.), Nor. & Fin. GDP (Q3) As October’s drop in Swedish inflation was almost entirely due to energy, we are not convinced that it means QE will be extended in December. Meanwhile, following stronger-than-expected GDP growth in... 14th November 2017 · 1 min read
Nordic & Swiss Economics Update Markets underestimating Riksbank rate rises As today’s minutes show few signs that policymakers are concerned about the economy overheating, we have pushed back our forecast for a rate rise to September 2018. But we still expect rates to be... 9th November 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Oct.) & Swedish Production Index. (Sep.) October’s weak Swiss inflation data support our view that SNB interest rate hikes are a very distant prospect. Elsewhere, Swedish production data suggest that quarterly GDP growth slowed in Q3. 6th November 2017 · 1 min read
Europe Commercial Property Update Is it too late to stock up on Stockholm offices? Solid but slowing rates of employment growth in Sweden will provide continued impetus for Stockholm office rents. This will keep Stockholm towards the top of the pack in our total return rankings for... 2nd November 2017 · 1 min read
Nordic & Swiss Economics Update Iceland’s election result reduces chance of fiscal boost At least four parties will be required to form a majority government following Iceland’s election, so coalition negotiations are set to take a number of months. As the left-wing parties performed... 1st November 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Oct.) October’s Swiss, Swedish and Norwegian manufacturing PMIs are consistent with strong growth in industrial output. But only in Sweden do we expect this to put sustained upward pressure on inflation. 1st November 2017 · 1 min read
Nordic & Swiss Economics Update Central bank actions push bond yields down In October, a combination of rising bond yields in the US and lower bond yields at home pushed Nordic and Swiss currencies down against the dollar. Weaker exchange rates, as well as decent economic... 30th October 2017 · 1 min read
Nordic & Swiss Data Response Sweden Econ. Tend. Survey (Oct.) & Retail Sales (Sep.) While the Swedish Economic Tendency Indicator edged down in October, the sharp rise in the consumer confidence index means that the survey now paints a more balanced picture of the economy. And with... 27th October 2017 · 1 min read
Nordic & Swiss Economics Update Divergent outlooks for Riksbank & Norges Bank policy While both the Riksbank and the Norges Bank kept policy unchanged today, the outlooks for monetary policy in the two countries are very different. We think that policy in Sweden will be tightened... 26th October 2017 · 1 min read
Nordic & Swiss Economic Outlook Riksbank to move ahead of the pack Economic prospects for the Nordic and Swiss economies are fairly bright. Although Switzerland had a disappointing start to the year in terms of GDP growth, the surveys are universally positive about... 25th October 2017 · 1 min read
Nordic & Swiss Central Bank Watch Riksbank on hold ahead of ECB The Riksbank is unlikely to shift its policy stance until it sees firmer signals of the outlook for policy in the euro-zone. So despite above-target inflation in Sweden, we do not expect the Riksbank... 19th October 2017 · 1 min read
Nordic & Swiss Chart Pack Inflation pressures weak apart from in Sweden The inflation data for September suggest that underlying price pressures remained subdued in most of the Nordic and Swiss countries, apart from Sweden. 13th October 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Sep.) Inflation remained above the Riksbank’s target in September and, with the economy performing strongly, domestic price pressures will continue to build. We therefore expect the Riksbank to start... 12th October 2017 · 1 min read
Nordic & Swiss Economics Update How will the SNB respond to ECB tapering? The Swiss National Bank will surely welcome the likely announcement later this month by the European Central Bank that it will wind up its asset purchase programme next year. This will probably help... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Sep.) & Swedish Industrial Prod. (Aug.) The rise in Swiss headline inflation in September will be welcomed by the Swiss National Bank, but subdued price pressures mean we expect the SNB to keep rates on hold until 2020. Elsewhere, Swedish... 5th October 2017 · 1 min read
