🇪🇺ECB preview: Continued policy easing amid temporary higher inflation 🔸Inflation temporarily edged up to 2.3%, while overall economic growth remained weak 🔸The ECB is likely to continue cutting rates during every meeting until summer Read more here: research.swedbank.se/default.aspx?c…

Continued weak 🇸🇪Swedish economy 🔸Swedish GDP declined in October after recovering slightly in Q3 🔸Household consumption remains weak, and private sector production decreased 🔸The Riksbank will stay on course and cut rates next week Read more here: research.swedbank.se/default.aspx?c…

🇸🇪November Final CPI: 🔸November inflation details were tilted to the soft side, but electricity upside risks mount Read more here: research.swedbank.se/default.aspx?c…

🇳🇴Norges Bank Preview: Guiding for 3 cuts next year, starting in March 🔸A slight upward revision of the rate path is on the cards, but cuts still starting in March Read more here: research.swedbank.se/default.aspx?c…

🇪🇺ECB update: A dovish cut and lower inflation expectations 🔸As expected, the ECB cut all main interest rates by 25 basis points 🔸Revisions and wording underline dovish tilt – we continue to expect consecutive rate cuts Read more here: research.swedbank.se/default.aspx?c…

🇸🇪Riksbanken fortsätter på den inslagna vägen 🔸Styrräntan sänks till 2,5 procent i december 🔸Avtalsrörelsen är i gång – potentiella nyheter nästa vecka Läs mer i Veckobrevet: research.swedbank.se/default.aspx?c…

🇸🇪The Riksbank stays on course 🔸The policy rate will be cut to 2.5 percent in December 🔸Collective bargaining is underway – potential news next week Read more in our SEK Rates Weekly: research.swedbank.se/default.aspx?c…

LFS: 🇸🇪Swedish labour market weakened in November 🔸The employment rate fell to 68.4% as the number of employed persons decreased 🔸The fall in the labour force resulted in lower unemployment, but is not a sign of a turnaround Read more here: research.swedbank.se/default.aspx?c…

🇺🇸Fed Preview: Starting to move at a slower pace 🔸The Fed is widely expected to cut by 25 bps in December but… 🔸… dot plot will likely be revised up to show fewer rate cuts in 2025 and 2026 Read more here: research.swedbank.se/default.aspx?c…

Insights from a 🇨🇳China expedition 🔸Export reliance in the face of US tariffs, while cyclical and structural issues holding back consumption 🔸 Policy support is being stepped up to stimulate consumption and infrastructure spending Read more here: research.swedbank.se/default.aspx?c…

🇺🇸Fed Review 🔸The Fed cut rates by 25 bps but signalled it will move at a slower pace going forward 🔸The dot plot indicated only two cuts next year; core PCE inflation revised up considerably 🔸We expect a pause to rate cuts in January Read more here: research.swedbank.se/default.aspx?c…

🇸🇪Riksbank decision: Hawkish tone, but may turn dovish ahead 🔸Expected rate cut but no revisions to the medium-term rate path 🔸We maintain our rate forecast, but with upside risk due to hawkish Riksbank tone Read more here: research.swedbank.se/default.aspx?c…

🇳🇴Norges Bank Review: Ready to Start Normalising to a Higher Normal 🔸Guiding firmly for a March cut and slightly more dovish through 2025 Read more here: research.swedbank.se/default.aspx?c…

🇸🇪Nedreviderat bostadsbehov av Boverket, men fortsatt högt 🔸Osäkerheten är hög, men att bostadsbehovet revideras ner håller tillbaka byggandet närmaste åren trots förbättrade makroekonomiska förutsättningar Läs mer här: research.swedbank.se/default.aspx?c…

I väntan på 2025 🔸Slutet på räntesänkningscykeln närmar sig 🔸Konjunkturen vänder 2025 men många nedåtrisker 🔸Avtalsrörelsen 2025 är formellt i gång Läs mer i Veckobrevet: research.swedbank.se/default.aspx?c…

Waiting for 2025 🔸The end of the rate cutting cycle is approaching 🔸Economic turnaround in 2025 but many downside risks 🔸Collective bargaining for 2025 is officially underway Read more in our SEK Rates Weekly: research.swedbank.se/default.aspx?c…

🇸🇪Swedish Retail sales: Almost unchanged but have bottomed out 🔸Retail sales decreased by 0.2% in November compared to October 🔸We expect retail sales to start to recover later in 2025 when purchasing power improves further Read more here: research.swedbank.se/default.aspx?c…

🇸🇪Diverging sentiment 🔸The ETI flat at a level slightly below normal 🔸Confidence moved in opposite directions among households and business sector 🔸The NIER recommend the Riksbank to cut the policy rate fast down to 1.50% Read more here: research.swedbank.se/default.aspx?c…

🇸🇪December Flash CPI: Lower than expected 🔸Annual CPI at 0.82%, CPIF at 1.47% and CPIF excl. energy at 2.05% in December 🔸Final details will be released on January 15th Read more here: research.swedbank.se/default.aspx?c…

🇸🇪Reallönetappet som aldrig tas igen 🔸KI:s långsiktiga prognos för reallön är nu 6,5% lägre än prognosen från 2021 🔸Permanent lägre produktivitet den viktigaste förklaringen 🔸Men även snabbare ökning av totala arbetskraftskostnader än nominella löner research.swedbank.se/default.aspx?c…