CNB unlikely to remove currency floor

Aug 20, 2015 07:19 am UTC| Commentary

Yesterday CNBs Singer stated that extending the FX policy beyond 2016 is definitely a possible scenario. This seems a strange thing to say at this point in time, given that GDP surprised to the upside in Q2 and CPI trends...

Fed rate hike in September?

Aug 20, 2015 07:10 am UTC| Commentary Central Banks

Will the Fed hike its Fed funds rate in September? Perhaps - and perhaps not. That is what the Fed signaled to the markets in its July meeting minutes. Most FOMC members judged that the conditions for policy firming had...

Greece to pay back to ECB today

Aug 20, 2015 07:08 am UTC| Commentary Central Banks

Today is pay day for Greece: the government in Athens will need to transfer 3.2 bn plus interest to the ECB. In addition, the bridge loan of a bit more than 7 bn, which kept Greece afloat for a few weeks until the...

New benchmark launch to burden Finnish bonds in the near term

Aug 20, 2015 07:04 am UTC| Commentary

In addition to the grim Finlands economic outlook, the supply outlook is against Finnish bonds in the near future. Finnish bonds have already seen some underperformance during the summer. In many maturities, Finnish bonds...

Finnish recovery to take time till 2016

Aug 20, 2015 07:02 am UTC| Commentary

The first comments coming from the trade unions regarding the Society Pact, which forms the heart of the government programme and seeks to boost Finnish cost competitiveness, have not been encouraging. Those comments...

Finland's economy continues detoriating

Aug 20, 2015 07:00 am UTC| Commentary

The flash estimate of the Finnish Q2 GDP was simply awful. Against expectations of a reading around flat, the numbers suggest GDP contracted by 0.4% q/q, marking the fourth consecutive quarter of contraction in a...

Riksbank to prevent undue strength of SEK

Aug 20, 2015 07:00 am UTC| Commentary

The SEK was under pressure from mid-July until recently as market participants increasingly bet in the direction of a hawkish Fed and a soft Riksbank (buying USD/SEK). EUR/SEK temporarily decoupled from the fixed income...