Viktig i dag: AKU-ledigheten en smule høyere Siden sist: Nok en nedrevidering av amerikanske BNP-tall
Erik Bruce follows the Norwegian economy closely, concentrating on the foreign exchange and interest rate markets. His role is to formulate and present Nordea's view on the domestic and international economy for domestic and international clients.
Prior to joining Nordea, Erik has worked for the Norwegian Ministry of Finance and the consultancy firm, ECON.
• Unchanged LFS unemployment • Slightly on the strong side - but will not change Norges Bank’s view
Viktig i dag: Kapitalvareordre fra USA Siden sist: Svakere IFO enn ventet
The Scandinavian central bank roller coaster continues. Norway lowered the rate path massively and Sweden is expected to follow. Scandinavian currencies are getting whacked but to us it seems overdone. In Denmark, spreads have gone out and now looks interesting. Finnish bonds have weakened but they are beginning to look interesting. Find out more on that, alongside updated views from our macroeconomists and strategists across the Nordic region. Enjoy!
Norges Bank la fram ny renteprognose forrige uke, og signaliserer at vi er nærme et rentekutt i løpet av de neste kvartalene. Denne uken kommer det arbeidsledighetstall som blir viktige å følge med på.
Den amerikanske sentralbanken, Fed, oppjusterte svakt sine renteforventninger på forrige ukes rentemøte, men understreker at rentene fortsatt skal være lave i lang tid
Flash PMI’s are out next week for the US, Euro area, and China. Most significant number from the US will be the PCE prices. We get a small hint of what the Euro area HICP might bring, when Germany and Spain delivers their flash estimates, and Norway will provide us with unemployment figures...
Viktig i dag: Fed med nye prognoser Siden sist: Høyere inflasjon i USA
Lower rates abroad and weaker growth next year should be given more weight than lower mortgages rates and somewhat higher inflation. In sum we believe Norges Bank will lower its forecast for key rates in Q4 next year by about 15 bp compared to the March forecast. That means unchanged rates until a first hike in Q4 2015.
Viktig i dag: Rolig ukestart Ellers denne uken: Rentemøte i Norges Bank og Fed Siden sist: Lite å melde over helgen
Viktig i dag: Lite på kalenderen Siden sist: Inflasjonen falt, men er høyere enn Norges Bank venter
• May core inflation at 2.3% down from 2.5% • 0.2% points above Norges Bank’s forecast
A quiet week ahead for the US and Euro Area. Nordic inflation prints will be out and focus will be on the BoJ...
• We expect core inflation to drop from 2.5% y/y to 2.1% • Means inflation back on Norges Bank forecast
Viktig i dag: Fortsatt moderat vekst i Norge? Og fortsatt sterk vekst i sysselsettingen i USA? Siden sist: ECB leverte
• Registered unemployment came in higher than expected • In line with Norges Bank after some months with unemployment on the low side