Europe Economics Update Norges Bank still hawkish The Norges Bank left rates unchanged today and shifted its guidance only very slightly in a dovish direction. Whereas the Bank does not expect to cut rates until Q1 next year, we think it is likely to... 19th September 2024 · 3 mins read
Europe Economic Outlook Economy slowing again The euro-zone appears to have lost some momentum and is likely to remain sluggish in the coming quarters. The core economies are the weakest, led by Germany which is probably in another technical... 18th September 2024 · 28 mins read
Europe Economics Update Norges Bank to leave door open for December rate cut Inflation keeps falling more quickly than Norges Bank’s forecasts but policymakers will be uneasy about the renewed weakening of the krone. We expect them to repeat that the policy rate will be... 12th September 2024 · 2 mins read
Europe Economics Update Norges Bank remains hawkish Norges Bank’s decision to leave its policy rate unchanged at today’s meeting, at 4.5%, was never in doubt. However, we still suspect that continued declines in inflation will allow it to start cutting... 15th August 2024 · 3 mins read
Europe Economics Update Norges Bank will stick to hawkish tone for now Inflation in Norway has continued to fall more quickly than policymakers expected. But with the krone coming under renewed pressure recently, we think they will maintain a hawkish tone next week. 9th August 2024 · 2 mins read
Europe Rapid Response Norway CPI (June 2024) The continued decline in inflation in Norway supports our view that Norges Bank will start cutting interest rates before the end of this year, rather than waiting until 2025 as its current guidance... 10th July 2024 · 2 mins read
Europe Economic Outlook On the mend The euro-zone has come out of a long period of stagnation and will expand at a moderate pace over the coming two years. The recovery will be faster in some southern economies, such as Spain, than in... 20th June 2024 · 28 mins read
Europe Rapid Response Norges Bank Policy Announcement (June 2024) Norges Bank’s verbal guidance and updated interest rate projections reinforce the message that it won’t start cutting interest rates until the end of the year at the earliest. 20th June 2024 · 2 mins read
Europe Economics Update Norges Bank to stick to hawkish tone Norges Bank will leave its policy rate at 4.5% next week and reiterate that rate cuts are some way off. We think it will wait until December to start loosening monetary policy. 13th June 2024 · 2 mins read
Europe Chart Pack Europe Chart Pack (June 2024) The latest data has been a bit stronger than we had anticipated and suggests that the recovery in euro-zone activity may continue at a moderate pace. The labour market remains tight, with unemployment... 10th June 2024 · 1 min read
Europe Economics Update Norges Bank still in hawkish mood Inflation in Norway has been falling faster than Norges Bank expected for some time, but with the core rate still a long way above target, today’s communications show that policymakers are not... 3rd May 2024 · 3 mins read
Europe Economics Update Norges Bank rate cuts inching closer The continued decline in core inflation will make it difficult for Norges Bank to stick to its current guidance that it will leave interest rates unchanged until Q4. We suspect that the Bank will... 26th April 2024 · 2 mins read
Europe Commercial Property Update Oslo offices to lead the way in Scandinavia Prime office rent growth in Scandinavia is expected to moderate in the coming years as soft demand and rising supply push up vacancy. But having trailed the other Scandinavian cities in 2023, we think... 23rd April 2024 · 3 mins read
Europe Economics Update SNB starts its loosening cycle, Norges Bank on hold The SNB under Chairman Thomas Jordan has never shied away from making big calls, so it was fitting that it surprised markets with a 25bp rate cut today, to 1.5%, only three weeks after Mr Jordan... 21st March 2024 · 3 mins read