In Sweden, the two weeks ahead contain quite a few interesting sets of data, inter alia industrial orders and production and the National Accounts adjusted household consumption indicator.
Other data out during the coming weeks, e.g. Swedish PMI data, have proven less than reliable in the past, so we do not intend to pay them much attention.
In Norway, there is little on the agenda over Easter. On Wednesday, we are due the PMI for March, which we expect to fall to 49.0 due to lower activity in oil-related industries. This would point to a fall in industrial activity in both March and Q1 as a whole but we do not think it would be enough to trigger a rate cut in May.
After Easter, we are due for Norwegian inflation figures for March and we expect the core rate to be unchanged at 2.4%. It is still too early to see any price-dampening effects of lower wage growth, while the krone's depreciation in autumn 2014 is likely to push up import prices through to the summer.
In Denmark the coming week will bring the revised national accounts for Q4 last year.
In the week after Easter, the Danish Central Bank will release currency reserves data for March, which will tell us whether the central bank needed to intervene further in March (in any direction). January and February saw strong upward pressure on the krone, which resulted in intervention to the tune of DKK275bn, but this pressure has since eased markedly and EUR/DKK has actually now weakened to a level just over 7.465, its lowest for a decade.
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