Erik Bruce

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.

Morgenrapport Norge 23.juli

Viktig i dag: Referat fra BoE Siden sist: Amerikanske inflasjonstall

Morgenrapport Norge 27.juni

Viktig i dag: AKU-ledigheten en smule høyere Siden sist: Nok en nedrevidering av amerikanske BNP-tall

Norway: Unemployment – still sideways trend

• Unchanged LFS unemployment • Slightly on the strong side - but will not change Norges Bank’s view

Morgenrapport Norge 25.juni

Viktig i dag: Kapitalvareordre fra USA Siden sist: Svakere IFO enn ventet

Northern Lights - Rate path Bonanza

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!

Nordea WebTV: Vi er nærme rentekutt fra Norges Bank

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.

Nordea WebTV: Fed fortsatt et stykke unna renteøkning

Den amerikanske sentralbanken, Fed, oppjusterte svakt sine renteforventninger på forrige ukes rentemøte, men understreker at rentene fortsatt skal være lave i lang tid

Week Ahead: 21 - 27 June 2014

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...

Morgenrapport Norge 18.juni

Viktig i dag: Fed med nye prognoser Siden sist: Høyere inflasjon i USA

Norges Bank: Later hike

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.

Morgenrapport Norge 16.juni

Viktig i dag: Rolig ukestart Ellers denne uken: Rentemøte i Norges Bank og Fed Siden sist: Lite å melde over helgen

Morgenrapport Norge 11.juni

Viktig i dag: Lite på kalenderen Siden sist: Inflasjonen falt, men er høyere enn Norges Bank venter

Core inflation above Norges Bank

• May core inflation at 2.3% down from 2.5% • 0.2% points above Norges Bank’s forecast

Week Ahead: 7 - 13 June 2014

A quiet week ahead for the US and Euro Area. Nordic inflation prints will be out and focus will be on the BoJ...

Prewarning Norway: Inflation back on track

• We expect core inflation to drop from 2.5% y/y to 2.1% • Means inflation back on Norges Bank forecast

Morgenrapport Norge 6.juni

Viktig i dag: Fortsatt moderat vekst i Norge? Og fortsatt sterk vekst i sysselsettingen i USA? Siden sist: ECB leverte

Norway: Weaker labour market

• Registered unemployment came in higher than expected • In line with Norges Bank after some months with unemployment on the low side