Nordic & Swiss Economics Update Riksbank shows the way with 50bp With the ECB poised to raise rates next Thursday, the Riksbank has got its retaliation in early, hiking its key rate by 50bp. The statement indicates that policymakers expect to raise rates by another... 26th April 2023 · 3 mins read
FX Markets Update Undervalued krone likely to rebound later this year The Norwegian krone has been the worst G10 performer against the US dollar by some way in recent months. Though lower energy prices and weakening risk sentiment have likely played a role, we suspect... 21st April 2023 · 4 mins read
Nordic & Swiss Economics Weekly Krona versus Krone, Switzerland outperforming We expect the Norwegian krone and the Swedish Krone to appreciate against the euro this year. The krone looks significantly undervalued to us, whereas the krona is likely to benefit from the Riksbank... 21st April 2023 · 6 mins read
Nordic & Swiss Economic Outlook Tightening cycle not yet over The outlook for economic activity in the Nordics and Switzerland remains poor. GDP is already contracting sharply in Sweden and we think Norway and Switzerland will only narrowly avoid recessions... 14th April 2023 · 12 mins read
Nordic & Swiss Economics Weekly Credit Suisse post mortem, Norwegian stagflation Swiss lawmakers' vote against the Credit Suisse rescue package this week does not impact the bank's takeover by UBS or the associated government guarantees. However, it has highlighted the need for... 14th April 2023 · 4 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Mar.) The fall in Sweden’s measure of core inflation to 8.9% in March suggests that it may now be passed its peak. But it is still much higher than the Riksbank had anticipated at its February meeting and... 14th April 2023 · 2 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Mar.) March’s inflation data make it all but certain that the Norges Bank will press on with its planned 25bp rate hike at the next meeting in May. 11th April 2023 · 2 mins read
Nordic & Swiss Economics Weekly Sweden’s commercial real estate problem Sweden's banking system and economy are more exposed to a downturn in the commercial real estate market than most other European countries. This is one of the reasons why we expect Sweden to... 6th April 2023 · 6 mins read
Non-Euro Europe Commercial Property Outlook Scandi & Swiss: Shallower downturn, but returns to lag Property values fell sharply in Scandinavia and Switzerland last year, but with valuations still stretched and financing set to remain challenging, we think yields will climb higher. And with economic... 4th April 2023 · 19 mins read
Nordic & Swiss Data Response Inflation falls sharply, but interest rates set to rise further. March’s sharp fall in headline inflation in Switzerland will provide some relief for the SNB as the decrease was spread across a wide range of goods. However, underlying price pressures remain strong... 3rd April 2023 · 2 mins read
Nordic & Swiss Economics Weekly Lessons in liquidity from Credit Suisse Despite meeting its regulatory requirements, it took only a matter of days of stressed conditions for Credit Suisse to be forced into a takeover. A closer look at Credit Suisse's liquidity position... 31st March 2023 · 6 mins read
Nordic & Swiss Economics Weekly Keep calm and carry on hiking The UBS takeover of Credit Suisse may tighten lending conditions slightly due to reduced competition and potentially tighter regulation. But we don’t think there will be a significant impact on... 24th March 2023 · 5 mins read
Nordic & Swiss Economics Update SNB focuses on inflation and raises rates This morning’s 50bp interest rate hike by the Swiss National Bank (SNB), to 1.50%, was in line with expectations and shows that, like the ECB and Fed, Swiss policymakers have not been distracted from... 23rd March 2023 · 3 mins read
Nordic & Swiss Economics Update Norges Bank not done yet The Norges Bank’s 25bp rate hike today was accompanied by new verbal guidance that it is likely to raise rates further in May. Together with the new, higher interest rate forecast, this supports our... 23rd March 2023 · 3 mins read
Nordic & Swiss Rapid Response Swiss National Bank Policy Meeting (March 2023) 23rd March 2023 · 2 mins read
